Brookstone Capital Management Boosts Holdings in EOG Resources, Inc. (NYSE:EOG)

Brookstone Capital Management grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 105.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,623 shares of the energy exploration company’s stock after buying an additional 1,860 shares during the quarter. Brookstone Capital Management’s holdings in EOG Resources were worth $444,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP lifted its position in EOG Resources by 87.7% in the second quarter. Seven Eight Capital LP now owns 4,949 shares of the energy exploration company’s stock valued at $623,000 after purchasing an additional 2,313 shares during the period. Inspire Investing LLC raised its stake in shares of EOG Resources by 177.7% during the 2nd quarter. Inspire Investing LLC now owns 11,524 shares of the energy exploration company’s stock worth $1,450,000 after buying an additional 7,374 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of EOG Resources by 23.7% in the 2nd quarter. Intech Investment Management LLC now owns 61,304 shares of the energy exploration company’s stock valued at $7,716,000 after buying an additional 11,752 shares during the period. Brighton Jones LLC lifted its holdings in shares of EOG Resources by 3.1% in the 2nd quarter. Brighton Jones LLC now owns 7,044 shares of the energy exploration company’s stock valued at $887,000 after buying an additional 215 shares during the period. Finally, Ieq Capital LLC boosted its stake in shares of EOG Resources by 9.6% in the second quarter. Ieq Capital LLC now owns 21,844 shares of the energy exploration company’s stock valued at $2,750,000 after buying an additional 1,915 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

EOG opened at $136.70 on Friday. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a 50 day moving average of $128.91 and a two-hundred day moving average of $126.99. The company has a market cap of $76.89 billion, a P/E ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29. 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 announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.85%. EOG Resources’s dividend payout ratio is presently 29.31%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EOG shares. Piper Sandler cut their price objective on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Scotiabank lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, Benchmark reiterated 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.