SVB Wealth LLC Makes New $7.84 Million Investment in EOG Resources, Inc. (NYSE:EOG)

SVB Wealth LLC bought a new position in EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, Holdings Channel.com reports. The fund bought 63,931 shares of the energy exploration company’s stock, valued at approximately $7,837,000.

A number of other institutional investors have also recently added to or reduced their stakes in EOG. Financial Life Planners acquired a new stake in EOG Resources in the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its position in 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 worth $25,000 after purchasing an additional 121 shares during the period. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. acquired a new stake in EOG Resources in the fourth quarter worth approximately $27,000. Finally, Capital Performance Advisors LLP acquired a new stake in EOG Resources in the third quarter worth approximately $31,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EOG shares. Bank of America reiterated a “neutral” rating and set a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Citigroup increased their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Finally, Piper Sandler increased their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.30.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

EOG Resources Trading Down 2.8 %

NYSE EOG opened at $126.99 on Friday. EOG Resources, Inc. has a 1-year low of $113.83 and a 1-year high of $139.67. 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 company has a market capitalization of $71.43 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The firm’s fifty day simple moving average is $129.30 and its 200-day simple moving average is $127.88.

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

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.07%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is 31.40%.

EOG Resources announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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.