Meritage Portfolio Management Sells 110 Shares of EOG Resources, Inc. (NYSE:EOG)

Meritage Portfolio Management decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,850 shares of the energy exploration company’s stock after selling 110 shares during the period. Meritage Portfolio Management’s holdings in EOG Resources were worth $5,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EOG. Arkadios Wealth Advisors bought a new position in shares of EOG Resources in the 3rd quarter worth approximately $212,000. Royal Fund Management LLC grew its position in shares of EOG Resources by 59.7% during the 3rd quarter. Royal Fund Management LLC now owns 7,224 shares of the energy exploration company’s stock valued at $916,000 after acquiring an additional 2,700 shares during the period. Private Trust Co. NA increased its stake in shares of EOG Resources by 36.8% in the 3rd quarter. Private Trust Co. NA now owns 2,768 shares of the energy exploration company’s stock worth $351,000 after purchasing an additional 745 shares in the last quarter. Richelieu Gestion SA purchased a new position in EOG Resources during the third quarter valued at $127,000. Finally, Marion Wealth Management grew its holdings in EOG Resources by 1.3% during the third quarter. Marion Wealth Management now owns 10,460 shares of the energy exploration company’s stock valued at $1,326,000 after purchasing an additional 138 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

EOG stock traded up $0.72 during trading on Friday, hitting $136.08. 1,004,312 shares of the company’s stock traded hands, compared to its average volume of 3,346,622. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52 week low of $106.32 and a 52 week high of $139.67. The stock has a fifty day moving average price of $125.26 and a two-hundred day moving average price of $122.45. The stock has a market capitalization of $78.28 billion, a price-to-earnings ratio of 10.41 and a beta of 1.40.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. EOG Resources’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.30 earnings per share. As a group, equities analysts anticipate that EOG Resources, Inc. will post 12.29 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a yield of 2.67%. EOG Resources’s dividend payout ratio is 27.98%.

Analysts Set New Price Targets

Several analysts have issued reports on EOG shares. KeyCorp boosted their price target on EOG Resources from $147.00 to $157.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Monday. Bank of America lowered EOG Resources from a “buy” rating to a “neutral” rating and dropped their price target for the company from $147.00 to $140.00 in a research note on Friday, January 5th. Scotiabank downgraded EOG Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. Finally, Stifel Nicolaus reduced their price target on shares of EOG Resources from $153.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EOG Resources has an average rating of “Moderate Buy” and a consensus price target of $142.19.

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.