Fermata Advisors LLC Makes New $443,000 Investment in EOG Resources, Inc. (NYSE:EOG)

Fermata Advisors LLC acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, Holdings Channel.com reports. The fund acquired 3,613 shares of the energy exploration company’s stock, valued at approximately $443,000.

A number of other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP lifted its stake in shares of EOG Resources by 87.7% in the second quarter. Seven Eight Capital LP now owns 4,949 shares of the energy exploration company’s stock worth $623,000 after acquiring an additional 2,313 shares in the last quarter. Inspire Investing LLC raised its position in shares of EOG Resources by 177.7% in the 2nd quarter. Inspire Investing LLC now owns 11,524 shares of the energy exploration company’s stock valued at $1,450,000 after purchasing an additional 7,374 shares in the last quarter. Intech Investment Management LLC raised its position in shares of EOG Resources by 23.7% in the 2nd quarter. Intech Investment Management LLC now owns 61,304 shares of the energy exploration company’s stock valued at $7,716,000 after purchasing an additional 11,752 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of EOG Resources by 3.1% during the 2nd quarter. Brighton Jones LLC now owns 7,044 shares of the energy exploration company’s stock valued at $887,000 after buying an additional 215 shares during the last quarter. Finally, Ieq Capital LLC increased its stake in shares of EOG Resources by 9.6% in the second quarter. Ieq Capital LLC now owns 21,844 shares of the energy exploration company’s stock worth $2,750,000 after buying an additional 1,915 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EOG. Evercore ISI reduced their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a research note on Monday, January 6th. Truist Financial upped their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Bank of America reiterated a “neutral” rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $143.48.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

EOG Resources Stock Performance

EOG opened at $136.70 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $128.91 and its 200-day moving average is $126.99. The stock has a market cap of $76.89 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.85%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.