Assetmark Inc. Sells 67,063 Shares of EOG Resources, Inc. (NYSE:EOG)

Assetmark Inc. trimmed its stake in EOG Resources, Inc. (NYSE:EOG) by 34.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,058 shares of the energy exploration company’s stock after selling 67,063 shares during the period. Assetmark Inc.’s holdings in EOG Resources were worth $15,452,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Laffer Tengler Investments Inc. increased its position in shares of EOG Resources by 41.6% in the fourth quarter. Laffer Tengler Investments Inc. now owns 58,638 shares of the energy exploration company’s stock worth $7,188,000 after purchasing an additional 17,213 shares during the last quarter. Victory Capital Management Inc. grew its position in EOG Resources by 30.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,449,449 shares of the energy exploration company’s stock valued at $177,673,000 after acquiring an additional 336,020 shares during the last quarter. Mainstream Capital Management LLC bought a new position in EOG Resources during the fourth quarter valued at approximately $25,000. Torray Investment Partners LLC grew its position in EOG Resources by 5.9% during the fourth quarter. Torray Investment Partners LLC now owns 150,612 shares of the energy exploration company’s stock valued at $18,462,000 after acquiring an additional 8,378 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in EOG Resources by 46.6% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,448 shares of the energy exploration company’s stock valued at $537,000 after acquiring an additional 1,413 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

Shares of EOG stock opened at $122.16 on Friday. The stock has a fifty day moving average of $129.40 and a 200 day moving average of $127.73. EOG Resources, Inc. has a 52 week low of $115.78 and a 52 week high of $139.67. The firm has a market capitalization of $68.71 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 3.58 and a beta of 1.27. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its quarterly 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. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. As a group, research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently disclosed 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. This represents a $3.90 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is currently 34.73%.

EOG Resources declared that its Board of Directors has approved a stock repurchase 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 usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

EOG has been the topic of a number of recent research reports. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Mizuho reduced their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Morgan Stanley reduced their price target on shares of EOG Resources from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Monday. UBS Group reduced their price target on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.80.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.30% 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.