MetLife Investment Management LLC Boosts Position in EOG Resources, Inc. (NYSE:EOG)

MetLife Investment Management LLC lifted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,980 shares of the energy exploration company’s stock after buying an additional 1,012 shares during the quarter. MetLife Investment Management LLC’s holdings in EOG Resources were worth $18,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EOG. Financial Life Planners acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased 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 worth $25,000 after buying an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of EOG Resources in the fourth quarter worth $25,000. Decker Retirement Planning Inc. acquired a new position in shares of EOG Resources in the fourth quarter worth $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources during the fourth quarter valued at $27,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

EOG Resources stock opened at $110.53 on Friday. The stock’s 50 day moving average price is $122.29 and its 200 day moving average price is $126.44. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The firm has a market capitalization of $60.96 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. 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 (NYSE:EOG) last released its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. As a group, sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.53%. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. UBS Group cut their price target on EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $150.00 to $130.00 in a report on Friday, April 11th. Bank of America reiterated a “neutral” rating and issued a $144.00 target price (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.19.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was 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. This represents a 7.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

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.