Formidable Asset Management LLC Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Formidable Asset Management LLC increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,800 shares of the energy exploration company’s stock after buying an additional 554 shares during the period. Formidable Asset Management LLC’s holdings in EOG Resources were worth $1,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of EOG Resources in the 4th quarter worth about $25,000. Y.D. More Investments Ltd boosted its position in shares of EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources in the 4th quarter worth about $25,000. Keystone Financial Group Inc. acquired a new position in EOG Resources in the 4th quarter valued at about $27,000. Finally, Lee Danner & Bass Inc. acquired a new position in EOG Resources in the 4th quarter valued at about $28,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on EOG shares. Scotiabank raised shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and cut their target price for the company from $150.00 to $130.00 in a research note on Friday, April 11th. UBS Group cut their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Wall Street Zen downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Williams Trading set a $154.00 target price on shares of EOG Resources in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their target price on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.79.

EOG Resources Stock Down 0.5%

EOG opened at $110.22 on Friday. The business has a 50 day moving average price of $114.71 and a 200 day moving average price of $123.93. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. 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 $60.15 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the company earned $2.82 earnings per share. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. Research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, July 17th. EOG Resources’s dividend payout ratio is presently 36.18%.

EOG Resources 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.