First Horizon Advisors Inc. Raises Stake in EOG Resources, Inc. (NYSE:EOG)

First Horizon Advisors Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,603 shares of the energy exploration company’s stock after acquiring an additional 93 shares during the period. First Horizon Advisors Inc.’s holdings in EOG Resources were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and increased 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 target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Finally, Raymond James upped their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Fifteen equities 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’s stock. According to MarketBeat, EOG Resources has a consensus rating of “Hold” and an average price target of $144.00.

EOG Resources Trading Up 0.6 %

NYSE EOG opened at $136.35 on Friday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The firm has a 50 day moving average of $127.95 and a two-hundred day moving average of $126.20. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $76.69 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28.

EOG Resources Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 31.40%.

EOG Resources announced that its board has authorized a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on 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 owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of EOG Resources 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 sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Company 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.