Private Trust Co. NA Buys 144 Shares of EOG Resources, Inc. (NYSE:EOG)

Private Trust Co. NA raised its stake in EOG Resources, Inc. (NYSE:EOG) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683 shares of the energy exploration company’s stock after acquiring an additional 144 shares during the period. Private Trust Co. NA’s holdings in EOG Resources were worth $207,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in shares of EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EOG Resources during the second quarter worth about $106,990,000. Legal & General Group Plc lifted its holdings in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of EOG Resources by 237.9% in the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after purchasing an additional 343,527 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after purchasing an additional 333,947 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Up 0.4 %

NYSE:EOG opened at $133.09 on Friday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. 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 has a market capitalization of $74.86 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 3.51 and a beta of 1.28. The firm has a fifty day simple moving average of $128.67 and a two-hundred day simple moving average of $126.27.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $147.00 to $149.00 in a report on Monday, November 18th. JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. KeyCorp reduced their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $144.20.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.