First Business Financial Services Inc. Grows Stake in EOG Resources, Inc. (NYSE:EOG)

First Business Financial Services Inc. increased its stake in EOG Resources, Inc. (NYSE:EOG) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,605 shares of the energy exploration company’s stock after acquiring an additional 453 shares during the period. First Business Financial Services Inc.’s holdings in EOG Resources were worth $1,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Financial Life Planners purchased a new position in EOG Resources in the fourth quarter worth about $25,000. Y.D. More Investments Ltd grew its position in EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in EOG Resources in the fourth quarter worth about $25,000. Decker Retirement Planning Inc. purchased a new position in EOG Resources in the fourth quarter worth about $27,000. Finally, Keystone Financial Group Inc. purchased a new position in EOG Resources in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EOG shares. Truist Financial boosted their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Morgan Stanley dropped their target price on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.10.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $122.15 on Thursday. The company has a market capitalization of $68.70 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. EOG Resources, Inc. has a 52 week low of $115.57 and a 52 week high of $139.67. 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 firm has a 50 day moving average of $129.36 and a 200 day moving average of $127.76.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. The company had revenue of $5.59 billion during 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, sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently declared 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. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is presently 34.73%.

EOG Resources declared that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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 on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

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.