Summit Global Investments Buys 5,781 Shares of EOG Resources, Inc. (NYSE:EOG)

Summit Global Investments raised its stake in EOG Resources, Inc. (NYSE:EOG) by 26.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,311 shares of the energy exploration company’s stock after buying an additional 5,781 shares during the period. Summit Global Investments’ holdings in EOG Resources were worth $3,348,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. DRW Securities LLC raised its stake in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after acquiring an additional 13,324 shares during the last quarter. World Investment Advisors LLC bought a new position in EOG Resources during the 3rd quarter worth $730,000. Mountain Lake Investment Management LLC acquired a new position in EOG Resources during the 4th quarter worth about $735,000. Oak Ridge Investments LLC grew its position in shares of EOG Resources by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after buying an additional 2,311 shares during the last quarter. Finally, Tobam acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $352,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Stock Up 0.5 %

EOG Resources stock opened at $124.91 on Friday. The firm has a market capitalization of $69.19 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. The firm’s fifty day moving average price is $129.11 and its two-hundred day moving average price is $127.45. EOG Resources, Inc. has a 1-year low of $115.78 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.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.12%. EOG Resources’s payout ratio is 34.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EOG shares. Piper Sandler cut their price objective on EOG Resources from $141.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Morgan Stanley dropped their price objective on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.33.

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.