CoreCommodity Management LLC Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

CoreCommodity Management LLC increased its position in EOG Resources, Inc. (NYSE:EOG) by 39.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,577 shares of the energy exploration company’s stock after acquiring an additional 7,175 shares during the quarter. EOG Resources comprises approximately 0.6% of CoreCommodity Management LLC’s holdings, making the stock its 27th biggest position. CoreCommodity Management LLC’s holdings in EOG Resources were worth $3,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Mountain Lake Investment Management LLC purchased a new stake in shares of EOG Resources in the fourth quarter worth $735,000. Oak Ridge Investments LLC increased its stake in 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 worth $5,059,000 after buying an additional 2,311 shares in the last quarter. Tobam bought a new stake in EOG Resources during the fourth quarter valued at about $352,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of EOG Resources by 161.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,487 shares of the energy exploration company’s stock valued at $550,000 after acquiring an additional 2,773 shares in the last quarter. Finally, Twelve Points Wealth Management LLC boosted its stake in shares of EOG Resources by 27.2% in the fourth quarter. Twelve Points Wealth Management LLC now owns 24,579 shares of the energy exploration company’s stock worth $3,013,000 after acquiring an additional 5,259 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EOG shares. Piper Sandler decreased their target price on EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Bank of America reissued a “neutral” rating and issued a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Williams Trading set a $154.00 target price on shares of EOG Resources in a research note on Wednesday, March 5th. UBS Group decreased their price target on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Susquehanna cut their price objective on EOG Resources from $161.00 to $156.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.95.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

EOG Resources Stock Up 0.3 %

NYSE EOG opened at $108.86 on Wednesday. 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, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market capitalization of $60.04 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 3.58 and a beta of 0.78. The company has a fifty day moving average of $117.49 and a two-hundred day moving average of $124.85.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. On average, analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 17th 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 3.58%. The ex-dividend date is Thursday, July 17th. EOG Resources’s dividend payout ratio is currently 36.18%.

EOG Resources 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.