Arizona State Retirement System Reduces Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Arizona State Retirement System reduced its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,615 shares of the energy exploration company’s stock after selling 1,168 shares during the period. Arizona State Retirement System’s holdings in EOG Resources were worth $20,056,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EOG. Insight Inv LLC grew its holdings in shares of EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after purchasing an additional 75 shares during the period. Essex Financial Services Inc. grew its holdings in shares of EOG Resources by 1.3% in the fourth quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after purchasing an additional 79 shares during the period. Valmark Advisers Inc. grew its holdings in shares of EOG Resources by 2.6% in the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after purchasing an additional 79 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of EOG Resources by 8.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after purchasing an additional 80 shares during the period. Finally, Advisor OS LLC grew its holdings in shares of EOG Resources by 3.1% in the fourth quarter. Advisor OS LLC now owns 2,751 shares of the energy exploration company’s stock valued at $337,000 after purchasing an additional 82 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.0 %

Shares of EOG opened at $122.15 on Thursday. The stock has a market capitalization of $68.70 billion, a PE ratio of 9.83, a P/E/G ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 1 year low of $115.57 and a 1 year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company’s 50-day simple moving average is $129.36 and its 200-day simple moving average is $127.76.

EOG Resources (NYSE:EOG) last issued its 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 firm 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%. 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 authorized a stock buyback plan 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 reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.19%. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EOG. Truist Financial upped their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup increased their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Bank of America reaffirmed a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Raymond James increased their target price on shares of EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Barclays lowered their target price on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.10.

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.