Laffer Tengler Investments Inc. Increases Holdings in EOG Resources, Inc. (NYSE:EOG)

Laffer Tengler Investments Inc. increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 41.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 58,638 shares of the energy exploration company’s stock after purchasing an additional 17,213 shares during the period. EOG Resources accounts for 1.4% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 24th largest position. Laffer Tengler Investments Inc.’s holdings in EOG Resources were worth $7,188,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after purchasing an additional 1,075,334 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 worth $2,230,014,000 after buying an additional 781,282 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in EOG Resources by 577.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after buying an additional 593,823 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in EOG Resources during the fourth quarter worth about $60,284,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 1.4 %

Shares of EOG Resources stock opened at $122.21 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52-week low of $115.40 and a 52-week high of $139.67. The company’s 50 day moving average price is $129.34 and its 200-day moving average price is $127.80. The stock has a market capitalization of $68.74 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping 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 net margin of 29.18% and a return on equity of 23.77%. Equities research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

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

EOG Resources Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is 34.73%.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on EOG shares. Truist Financial raised their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Raymond James upped 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 report on Thursday, January 23rd. Twelve research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.10.

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.