Meritage Portfolio Management Acquires 34,790 Shares of EOG Resources, Inc. $EOG

Meritage Portfolio Management boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 54.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 98,339 shares of the energy exploration company’s stock after purchasing an additional 34,790 shares during the quarter. Meritage Portfolio Management’s holdings in EOG Resources were worth $10,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hemington Wealth Management boosted its stake in EOG Resources by 7.2% during the 3rd quarter. Hemington Wealth Management now owns 1,383 shares of the energy exploration company’s stock valued at $155,000 after purchasing an additional 93 shares during the period. Bollard Group LLC boosted its stake in EOG Resources by 0.8% during the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company’s stock valued at $1,317,000 after purchasing an additional 93 shares during the period. apricus wealth LLC boosted its stake in EOG Resources by 5.0% during the 3rd quarter. apricus wealth LLC now owns 2,002 shares of the energy exploration company’s stock valued at $224,000 after purchasing an additional 95 shares during the period. Sowell Financial Services LLC boosted its stake in EOG Resources by 1.6% during the 3rd quarter. Sowell Financial Services LLC now owns 6,234 shares of the energy exploration company’s stock valued at $699,000 after purchasing an additional 96 shares during the period. Finally, Hardy Reed LLC boosted its stake in EOG Resources by 4.5% during the 3rd quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company’s stock valued at $254,000 after purchasing an additional 97 shares during the period. Institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the sale, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,230 shares of company stock valued at $2,522,568 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

EOG Resources Price Performance

Shares of EOG stock opened at $129.04 on Tuesday. The stock has a 50 day moving average of $132.42 and a two-hundred day moving average of $116.31. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The company has a market capitalization of $69.13 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.57 and a beta of 0.32.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the company earned $2.74 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that EOG Resources, Inc. will post 13.4 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be given a $1.02 dividend. The ex-dividend date is Thursday, April 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.2%. EOG Resources’s dividend payout ratio (DPR) is currently 44.79%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EOG. Sanford C. Bernstein increased their target price on EOG Resources from $126.00 to $167.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. increased their target price on EOG Resources from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Capital One Financial increased their target price on EOG Resources from $130.00 to $161.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Raymond James Financial raised their price objective on EOG Resources from $157.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 27th. Finally, Truist Financial started coverage on EOG Resources in a research report on Tuesday, March 24th. They issued a “hold” rating and a $146.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $152.04.

EOG Resources Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.