Coerente Capital Management Buys 8,327 Shares of EOG Resources, Inc. $EOG

Key Points

• Coerente Capital Management increased its stake in EOG Resources by 6.1%, buying 8,327 shares to hold 144,176 shares (about $15.14 million), representing 2.8% of the fund’s portfolio and its 18th largest position.
• EOG announced a quarterly dividend of $1.02 (annualized $4.08), a 3.0% yield, with an ex-dividend date of April 16 and payment on April 30.
• Company insiders have been selling recently: the CFO and COO sold shares in March, and insiders disposed of a total of 18,230 shares valued at about $2.52 million over the last 90 days, leaving insiders with 0.14% ownership.

Coerente Capital Management lifted its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,176 shares of the energy exploration company's stock after purchasing an additional 8,327 shares during the period. EOG Resources comprises about 2.8% of Coerente Capital Management's investment portfolio, making the stock its 18th largest position. Coerente Capital Management's holdings in EOG Resources were worth $15,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Cullen Capital Management LLC grew its holdings in EOG Resources by 4.7% during the 2nd quarter. Cullen Capital Management LLC now owns 576,470 shares of the energy exploration company's stock worth $68,952,000 after acquiring an additional 25,753 shares in the last quarter. Rockland Trust Co. grew its holdings in EOG Resources by 5.1% during the 3rd quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company's stock worth $27,618,000 after acquiring an additional 11,965 shares in the last quarter. Legal & General Group Plc grew its holdings in EOG Resources by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after acquiring an additional 68,888 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in EOG Resources by 21.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company's stock worth $7,380,000 after acquiring an additional 11,442 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in EOG Resources by 1,413.5% during the 3rd quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company's stock worth $2,863,000 after acquiring an additional 23,846 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In related news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares of the company's stock, valued at $14,038,449.84. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company's stock, valued at $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,230 shares of company stock valued at $2,522,568 over the last ninety days. 0.14% of the stock is currently owned by insiders.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $136.26 on Friday. The firm has a market capitalization of $73.00 billion, a P/E ratio of 14.96, a PEG ratio of 2.85 and a beta of 0.32. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $130.01 and a 200 day moving average price of $115.52. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. EOG Resources's revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $2.74 EPS. Sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, April 16th. EOG Resources's dividend payout ratio (DPR) is presently 44.79%.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent research reports. UBS Group increased their target price on shares of EOG Resources from $141.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Piper Sandler increased their target price on shares of EOG Resources from $144.00 to $147.00 and gave the stock a "neutral" rating in a report on Wednesday, April 1st. Jefferies Financial Group increased their target price on shares of EOG Resources from $140.00 to $146.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Truist Financial initiated coverage on shares of EOG Resources in a report on Tuesday, March 24th. They set a "hold" rating and a $146.00 target price on the stock. Finally, Stephens increased their target price on shares of EOG Resources from $139.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $148.11.

About EOG Resources

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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