Coerente Capital Management Acquires 308 Shares of EOG Resources, Inc. (NYSE:EOG)

Coerente Capital Management lifted its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,484 shares of the energy exploration company’s stock after buying an additional 308 shares during the quarter. EOG Resources comprises 2.8% of Coerente Capital Management’s portfolio, making the stock its 19th biggest holding. Coerente Capital Management’s holdings in EOG Resources were worth $15,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources during the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. acquired a new position in EOG Resources during the 4th quarter worth $27,000. Eastern Bank bought a new position in EOG Resources in the 3rd quarter valued at $28,000. Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources in the 3rd quarter valued at $31,000. Finally, HM Payson & Co. raised its position in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analysts Set New Price Targets

EOG has been the subject of a number of research reports. Mizuho lowered 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. Raymond James lifted their price target 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. Piper Sandler increased their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday. Scotiabank lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $143.90.

EOG Resources Stock Down 3.2 %

EOG stock opened at $125.63 on Friday. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a market cap of $70.66 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 3.46 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $128.37 and a two-hundred day moving average price of $127.40.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same quarter last year, the company posted $3.44 earnings per share. Analysts anticipate that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

EOG Resources announced that its Board of Directors has initiated a share buyback program 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 reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’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 value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.