Grantham Mayo Van Otterloo & Co. LLC Boosts Stake in EOG Resources, Inc. (NYSE:EOG)

Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 34.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 307,844 shares of the energy exploration company’s stock after acquiring an additional 79,139 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in EOG Resources were worth $37,736,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. World Investment Advisors LLC purchased a new position in EOG Resources during the third quarter worth about $730,000. Mountain Lake Investment Management LLC acquired a new position in shares of EOG Resources in the 4th quarter worth approximately $735,000. Oak Ridge Investments LLC boosted its position in shares of EOG Resources by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the period. Tobam acquired a new stake in EOG Resources in the 4th quarter valued at approximately $352,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in EOG Resources by 161.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,487 shares of the energy exploration company’s stock valued at $550,000 after purchasing an additional 2,773 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EOG shares. Mizuho reaffirmed a “neutral” rating and issued a $140.00 price objective (down from $148.00) on shares of EOG Resources in a research note on Tuesday, March 25th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Citigroup cut their price target on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Truist Financial raised their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler cut their target price on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Thirteen equities research 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, the company has an average rating of “Hold” and a consensus price target of $144.67.

EOG Resources Stock Performance

Shares of EOG opened at $110.39 on Friday. The company has a market capitalization of $60.88 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. EOG Resources, Inc. has a 52-week low of $109.20 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 stock has a 50 day moving average price of $127.14 and a 200 day moving average price of $127.80.

EOG Resources (NYSE:EOG) last posted its earnings results 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 business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

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

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

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.