KLP Kapitalforvaltning AS Makes New $32.33 Million Investment in EOG Resources, Inc. (NYSE:EOG)

KLP Kapitalforvaltning AS bought a new position in EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 263,703 shares of the energy exploration company’s stock, valued at approximately $32,325,000.

A number of other institutional investors also recently modified their holdings of the stock. Sei Investments Co. raised its stake in shares of EOG Resources by 11.8% in the fourth quarter. Sei Investments Co. now owns 340,152 shares of the energy exploration company’s stock worth $41,697,000 after acquiring an additional 35,823 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of EOG Resources by 44.6% in the fourth quarter. Mizuho Securities USA LLC now owns 53,308 shares of the energy exploration company’s stock worth $6,534,000 after acquiring an additional 16,437 shares during the last quarter. Virtu Financial LLC bought a new position in shares of EOG Resources in the fourth quarter worth about $1,933,000. Millstone Evans Group LLC bought a new position in shares of EOG Resources in the fourth quarter worth about $61,000. Finally, Summit Global Investments raised its stake in shares of EOG Resources by 26.9% during the fourth quarter. Summit Global Investments now owns 27,311 shares of the energy exploration company’s stock worth $3,348,000 after buying an additional 5,781 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Raymond James boosted their price target on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Williams Trading set a $154.00 price target on shares of EOG Resources in a research note on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company dropped their price target on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Piper Sandler dropped their price target on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average target price of $145.33.

EOG Resources Stock Up 0.5 %

EOG Resources stock opened at $124.91 on Friday. The stock has a market capitalization of $69.19 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. EOG Resources, Inc. has a twelve month low of $115.78 and a twelve month high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $129.11 and a 200-day moving average of $127.47.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is presently 34.73%.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.