Summit Financial LLC Boosts Stake in EOG Resources, Inc. (NYSE:EOG)

Summit Financial LLC boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,689 shares of the energy exploration company’s stock after acquiring an additional 2,251 shares during the period. Summit Financial LLC’s holdings in EOG Resources were worth $2,046,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealthfront Advisers LLC increased its holdings in shares of EOG Resources by 4,642.2% in the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock valued at $349,627,000 after purchasing an additional 2,792,092 shares during the last quarter. Franklin Resources Inc. grew its holdings 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 valued at $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of EOG Resources in the 4th quarter worth $171,193,000. Charles Schwab Investment Management Inc. raised its holdings in shares of EOG Resources by 4.5% during the 4th 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 acquiring an additional 781,282 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of EOG Resources by 577.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after acquiring an additional 593,823 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $128.44 on Tuesday. The business has a 50-day simple moving average of $128.06 and a 200-day simple moving average of $127.85. 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 one year low of $115.78 and a one year high of $139.67. The company has a market cap of $71.15 billion, a PE ratio of 10.34, a P/E/G ratio of 3.58 and a beta of 1.25.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.04%. EOG Resources’s dividend payout ratio is currently 34.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Bank of America restated a “neutral” rating and issued a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Finally, Piper Sandler lowered their price target on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $144.67.

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.