Franklin Resources Inc. lifted its position in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,443,453 shares of the energy exploration company’s stock after buying an additional 1,257,110 shares during the quarter. Franklin Resources Inc.’s holdings in EOG Resources were worth $676,627,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in EOG. Erste Asset Management GmbH purchased a new position in shares of EOG Resources during the fourth quarter valued at $70,000. Brandywine Global Investment Management LLC grew its holdings in EOG Resources by 3.5% during the 4th quarter. Brandywine Global Investment Management LLC now owns 892,095 shares of the energy exploration company’s stock worth $93,679,000 after acquiring an additional 30,241 shares in the last quarter. Fiera Capital Corp increased its position in EOG Resources by 15.2% during the 4th quarter. Fiera Capital Corp now owns 79,037 shares of the energy exploration company’s stock valued at $8,300,000 after purchasing an additional 10,402 shares during the period. Syon Capital LLC increased its position in EOG Resources by 2.1% during the 4th quarter. Syon Capital LLC now owns 5,799 shares of the energy exploration company’s stock valued at $609,000 after purchasing an additional 120 shares during the period. Finally, Nemes Rush Group LLC bought a new stake in shares of EOG Resources in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of EOG Resources from $146.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Capital One Financial reduced their price objective on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. Raymond James Financial increased their target price on EOG Resources from $157.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Friday, March 27th. Royal Bank Of Canada lifted their price target on EOG Resources from $138.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.32.
Insider Transactions at EOG Resources
In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $14,038,449.84. This trade represents a 3.99% 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 the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 12,456 shares of company stock valued at $1,788,033. 0.14% of the stock is currently owned by company insiders.
EOG Resources Trading Up 1.8%
NYSE:EOG opened at $140.20 on Tuesday. The stock has a market capitalization of $74.67 billion, a price-to-earnings ratio of 13.80 and a beta of 0.25. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $137.72 and a 200 day moving average of $123.12.
EOG Resources (NYSE:EOG – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.87 earnings per share. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 16.63 earnings per share for the current fiscal year.
EOG Resources Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s dividend payout ratio is currently 40.16%.
EOG Resources Company 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.
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