Galvin Gaustad & Stein LLC Raises Position in EOG Resources, Inc. (NYSE:EOG)

Galvin Gaustad & Stein LLC raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 6.6% in the fourth quarter, Holdings Channel reports. The fund owned 145,262 shares of the energy exploration company’s stock after buying an additional 8,945 shares during the period. EOG Resources accounts for approximately 1.6% of Galvin Gaustad & Stein LLC’s investment portfolio, making the stock its 24th largest holding. Galvin Gaustad & Stein LLC’s holdings in EOG Resources were worth $17,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the 4th quarter valued at approximately $27,000. Eastern Bank acquired a new stake in EOG Resources in the 3rd quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources in the 3rd quarter valued at approximately $31,000. Finally, HM Payson & Co. boosted its position in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $134.95 on Thursday. The company has a 50-day simple moving average of $129.09 and a 200-day simple moving average of $127.27. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a market capitalization of $75.90 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.76 and a beta of 1.29.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the company earned $3.44 earnings per share. On average, analysts predict that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 31.40%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This 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. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at $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. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EOG shares. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Raymond James lifted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Citigroup lifted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus price target of $143.48.

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.