Advisors Asset Management Inc. Increases Stake in EOG Resources, Inc. (NYSE:EOG)

Advisors Asset Management Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 6.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,709 shares of the energy exploration company’s stock after purchasing an additional 1,843 shares during the period. Advisors Asset Management Inc.’s holdings in EOG Resources were worth $3,775,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cape ANN Savings Bank grew its holdings in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after acquiring an additional 79 shares in the last quarter. CVA Family Office LLC grew its stake in shares of EOG Resources by 11.0% during the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after purchasing an additional 81 shares in the last quarter. Bailard Inc. increased its holdings in EOG Resources by 0.4% in the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares during the last quarter. Everpar Advisors LLC raised its stake in EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after buying an additional 83 shares in the last quarter. Finally, Altman Advisors Inc. lifted its holdings in EOG Resources by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Ratings Changes

EOG has been the topic of several research analyst reports. Truist Financial raised their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Barclays lowered their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $147.00 to $149.00 in a research note on Monday, November 18th. Scotiabank reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, KeyCorp cut their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus target price of $144.00.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

EOG Resources Price Performance

Shares of EOG opened at $136.35 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $127.95 and its two-hundred day moving average is $126.20. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market capitalization of $76.69 billion, a PE ratio of 10.98, a P/E/G ratio of 3.58 and a beta of 1.28.

EOG Resources Increases Dividend

The firm also recently disclosed 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 represents a $3.90 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 31.40%.

EOG Resources announced that its board has approved a stock repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

EOG Resources Profile

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.