Connor Clark & Lunn Investment Management Ltd. Has $18.59 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 73.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,669 shares of the energy exploration company’s stock after buying an additional 64,201 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in EOG Resources were worth $18,592,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd lifted its position in shares of EOG Resources by 149.4% in the fourth 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. Mainstream Capital Management LLC acquired a new stake in EOG Resources during the 4th quarter worth approximately $25,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources during the 4th quarter worth approximately $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in EOG Resources during the 4th quarter worth approximately $27,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EOG. Barclays dropped their price target on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price target on EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley dropped their price target on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Truist Financial lifted their price target on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $145.86.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

EOG Resources Trading Down 2.6 %

Shares of EOG opened at $121.01 on Friday. EOG Resources, Inc. has a 52-week low of $115.78 and a 52-week high of $139.67. The business’s fifty day moving average is $129.60 and its 200-day moving average is $127.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $67.03 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.58 and a beta of 1.25.

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

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.22%. EOG Resources’s payout ratio is 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.