Royal Fund Management LLC Reduces Stake in EOG Resources, Inc. (NYSE:EOG)

Royal Fund Management LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 66.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,400 shares of the energy exploration company’s stock after selling 20,622 shares during the period. Royal Fund Management LLC’s holdings in EOG Resources were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new stake in shares of EOG Resources during the 4th quarter worth approximately $27,000. Eastern Bank purchased a new position in EOG Resources during the 3rd quarter valued at $28,000. Capital Performance Advisors LLP bought a new position in EOG Resources in the 3rd quarter valued at $31,000. Finally, HM Payson & Co. increased its stake in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the period. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Piper Sandler lowered their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Raymond James raised their price objective on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $143.48.

EOG Resources Trading Down 0.4 %

NYSE:EOG opened at $136.09 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $129.04 and a 200-day simple moving average of $127.14. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a market capitalization of $76.54 billion, a P/E ratio of 10.96, a PEG ratio of 3.77 and a beta of 1.29.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period last year, the business posted $3.44 earnings per share. On average, equities research analysts anticipate that EOG Resources, Inc. will post 11.45 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 31.40%.

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

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

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.