Charles Schwab Investment Management Inc. Grows Position in EOG Resources, Inc. (NYSE:EOG)

Charles Schwab Investment Management Inc. increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,192,314 shares of the energy exploration company’s stock after buying an additional 781,282 shares during the period. Charles Schwab Investment Management Inc. owned about 3.23% of EOG Resources worth $2,230,014,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DRW Securities LLC increased 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 worth $3,299,000 after buying an additional 13,324 shares during the period. Caprock Group LLC boosted its holdings in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares in the last quarter. World Investment Advisors LLC acquired a new position in EOG Resources in the third quarter valued at approximately $730,000. Mountain Lake Investment Management LLC acquired a new position in EOG Resources in the fourth quarter valued at approximately $735,000. Finally, Oak Ridge Investments LLC boosted its holdings in EOG Resources by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock valued at $5,059,000 after purchasing an additional 2,311 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Down 5.2 %

Shares of EOG stock opened at $120.28 on Tuesday. EOG Resources, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $139.67. The stock has a market cap of $67.65 billion, a P/E ratio of 9.68, a P/E/G ratio of 3.58 and a beta of 1.27. The business has a fifty day simple moving average of $129.31 and a 200-day simple moving average of $127.85. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

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

EOG Resources announced that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is currently 34.73%.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EOG shares. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays cut their price target on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Mizuho cut their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, 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. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources has an average rating of “Moderate Buy” and an average target price of $145.80.

About EOG Resources

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.