Mirae Asset Global Investments Co. Ltd. Acquires 75,369 Shares of EOG Resources, Inc. (NYSE:EOG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 17.5% during the 4th quarter, Holdings Channel reports. The firm owned 506,487 shares of the energy exploration company’s stock after buying an additional 75,369 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EOG Resources were worth $60,990,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Financial Life Planners purchased a new position in EOG Resources in the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd raised its stake in EOG Resources by 149.4% during the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in EOG Resources during the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. purchased a new stake in EOG Resources during the 4th quarter valued at $27,000. Finally, Eastern Bank purchased a new stake in EOG Resources during the 3rd quarter valued at $28,000. 89.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on EOG. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Bank of America reissued a “neutral” rating and set a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Piper Sandler boosted their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Raymond James boosted their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $143.90.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

Shares of EOG stock opened at $128.24 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company’s 50-day simple moving average is $128.26 and its two-hundred day simple moving average is $127.29. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a market capitalization of $72.13 billion, a P/E ratio of 10.33, a P/E/G ratio of 3.33 and a beta of 1.27.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the firm earned $3.44 earnings per share. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.46 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $0.975 per share. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.04%. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources declared that its board has initiated a share buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

About EOG Resources

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.