Welch & Forbes LLC Boosts Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Welch & Forbes LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,063 shares of the energy exploration company’s stock after purchasing an additional 387 shares during the period. Welch & Forbes LLC’s holdings in EOG Resources were worth $2,789,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. McIlrath & Eck LLC grew its position in EOG Resources by 77.6% during the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after buying an additional 104 shares during the period. Peoples Bank KS purchased a new position in EOG Resources in the 3rd quarter valued at approximately $31,000. Exchange Traded Concepts LLC raised its holdings in EOG Resources by 530.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 212 shares during the last quarter. Hall Laurie J Trustee acquired a new stake in EOG Resources in the fourth quarter valued at $36,000. Finally, Keener Financial Planning LLC acquired a new position in shares of EOG Resources during the 4th quarter worth $36,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup raised their target price on shares of EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Raymond James reduced their target price on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday. TD Securities reduced their price objective on EOG Resources from $135.00 to $130.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Finally, Barclays started coverage on EOG Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price objective for the company. Fourteen 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.com, the company has a consensus rating of “Hold” and an average target price of $142.27.

EOG Resources Stock Down 0.2 %

NYSE EOG traded down $0.25 during trading hours on Tuesday, hitting $130.23. The company had a trading volume of 3,262,261 shares, compared to its average volume of 3,392,364. The firm’s 50 day moving average is $128.17 and its 200 day moving average is $122.33. The company has a market capitalization of $74.84 billion, a price-to-earnings ratio of 10.29 and a beta of 1.38. EOG Resources, Inc. has a fifty-two week low of $106.32 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.12. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. Sell-side analysts anticipate that EOG Resources, Inc. will post 12.14 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, July 17th. EOG Resources’s payout ratio is currently 28.75%.

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.