Korea Investment CORP Purchases 45,840 Shares of EOG Resources, Inc. (NYSE:EOG)

Korea Investment CORP raised its position in EOG Resources, Inc. (NYSE:EOG) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,459 shares of the energy exploration company’s stock after buying an additional 45,840 shares during the quarter. Korea Investment CORP’s holdings in EOG Resources were worth $51,785,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealthfront Advisers LLC increased its holdings in EOG Resources by 4,642.2% in the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock worth $349,627,000 after acquiring an additional 2,792,092 shares during the last quarter. Franklin Resources Inc. boosted its position in EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Raymond James Financial Inc. purchased a new position in shares of EOG Resources in the fourth quarter worth about $171,193,000. Charles Schwab Investment Management Inc. raised its position in shares of EOG Resources by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after purchasing an additional 781,282 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake 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 buying an additional 593,823 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Williams Trading set a $154.00 target price on EOG Resources in a research note on Wednesday, March 5th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Piper Sandler cut their price objective on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.67.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $126.84 on Friday. The stock’s 50-day moving average is $128.43 and its 200 day moving average is $127.61. The stock has a market cap of $70.26 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 3.58 and a beta of 1.25. EOG Resources, Inc. has a 1-year low of $115.78 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS 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 firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS 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. Shareholders 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 yield of 3.07%. EOG Resources’s payout ratio is 34.73%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 completion of the sale, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed 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.