Formidable Asset Management LLC Purchases 554 Shares of EOG Resources, Inc. (NYSE:EOG)

Formidable Asset Management LLC lifted its position in EOG Resources, Inc. (NYSE:EOG) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,800 shares of the energy exploration company’s stock after buying an additional 554 shares during the period. Formidable Asset Management LLC’s holdings in EOG Resources were worth $1,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EOG. Financial Life Planners bought a new position in EOG Resources during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd lifted its position in EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. Mainstream Capital Management LLC bought a new position in EOG Resources during the fourth quarter valued at approximately $25,000. Keystone Financial Group Inc. bought a new position in EOG Resources during the fourth quarter valued at approximately $27,000. Finally, Lee Danner & Bass Inc. bought a new position in EOG Resources during the fourth quarter valued at approximately $28,000. Institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EOG. Susquehanna decreased their target price on EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Raymond James reiterated a “strong-buy” rating on shares of EOG Resources in a research report on Tuesday. Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the company from $150.00 to $130.00 in a research report on Friday, April 11th. Citigroup lowered their target price on EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Piper Sandler lowered their target price on EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.79.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $110.22 on Friday. The firm has a market cap of $60.15 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The firm’s fifty day moving average price is $114.71 and its 200 day moving average price is $123.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. On average, sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $3.90 annualized dividend and a dividend yield of 3.54%. EOG Resources’s 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.