Chung Wu Investment Group LLC Buys New Position in EOG Resources, Inc. (NYSE:EOG)

Chung Wu Investment Group LLC acquired a new position in EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,858 shares of the energy exploration company’s stock, valued at approximately $595,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of EOG Resources by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after buying an additional 781,282 shares during the period. Geode Capital Management LLC raised its stake in shares of EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after buying an additional 180,755 shares during the period. Franklin Resources Inc. raised its stake in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the period. Pacer Advisors Inc. raised its stake in shares of EOG Resources by 5.0% in the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after buying an additional 214,497 shares during the period. Finally, Yacktman Asset Management LP raised its stake in shares of EOG Resources by 10.3% in the fourth quarter. Yacktman Asset Management LP now owns 1,807,065 shares of the energy exploration company’s stock valued at $221,510,000 after buying an additional 168,723 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $122.15 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a one year low of $115.57 and a one year high of $139.67. The firm has a market capitalization of $68.70 billion, a P/E ratio of 9.83, a PEG ratio of 3.58 and a beta of 1.27. The business has a fifty day moving average of $129.36 and a 200 day moving average of $127.76.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data 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. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

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

Analyst Ratings Changes

EOG has been the topic of several research reports. Truist Financial boosted their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Piper Sandler boosted their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Bank of America reiterated a “neutral” rating and set a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $146.10.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% 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.