Welch & Forbes LLC Purchases 387 Shares of EOG Resources, Inc. (NYSE:EOG)

Welch & Forbes LLC boosted its position in EOG Resources, Inc. (NYSE:EOG) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Several other large investors have also recently bought and sold shares of EOG. Apollon Wealth Management LLC grew its position in shares of EOG Resources by 114.8% in the 4th quarter. Apollon Wealth Management LLC now owns 23,350 shares of the energy exploration company’s stock valued at $2,824,000 after buying an additional 12,480 shares during the last quarter. Lincoln National Corp raised its holdings in EOG Resources by 15.3% during the 4th quarter. Lincoln National Corp now owns 7,073 shares of the energy exploration company’s stock worth $855,000 after purchasing an additional 939 shares during the last quarter. Fielder Capital Group LLC acquired a new position in shares of EOG Resources in the 4th quarter worth approximately $865,000. Maryland State Retirement & Pension System boosted its stake in shares of EOG Resources by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 45,750 shares of the energy exploration company’s stock valued at $5,533,000 after purchasing an additional 487 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in EOG Resources by 2.3% during the fourth quarter. Private Advisor Group LLC now owns 14,840 shares of the energy exploration company’s stock worth $1,795,000 after buying an additional 336 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

Shares of EOG Resources stock traded down $0.25 during mid-day trading on Tuesday, hitting $130.23. 3,262,261 shares of the stock were exchanged, compared to its average volume of 3,392,364. The company has a market capitalization of $74.84 billion, a P/E ratio of 10.29 and a beta of 1.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32. The company has a 50-day simple moving average of $128.17 and a 200 day simple moving average of $122.33. EOG Resources, Inc. has a 12 month low of $106.32 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data 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 firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $2.69 EPS. Sell-side analysts anticipate that EOG Resources, Inc. will post 12.14 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

EOG has been the subject of a number of recent analyst reports. Scotiabank downgraded EOG Resources from a “sector outperform” rating to a “sector perform” rating and increased their price target for the stock from $135.00 to $155.00 in a report on Thursday, April 11th. Piper Sandler lifted their target price on EOG Resources from $141.00 to $153.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Barclays initiated coverage on EOG Resources in a report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price target on the stock. Raymond James lowered their price objective on shares of EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research note on Tuesday, April 9th. Fourteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and an average target price of $142.27.

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.