EOG Resources, Inc. (NYSE:EOG) Position Reduced by Pitcairn Co.

Pitcairn Co. cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,610 shares of the energy exploration company’s stock after selling 955 shares during the quarter. Pitcairn Co.’s holdings in EOG Resources were worth $567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EOG. Caprock Group LLC raised its position in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after acquiring an additional 862 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its holdings in shares of EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after purchasing an additional 10,618 shares in the last quarter. KBC Group NV boosted its holdings in EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in EOG Resources by 44.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of EOG Resources by 13.3% in the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock valued at $6,518,000 after buying an additional 5,972 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 3.2 %

NYSE:EOG opened at $131.98 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a market capitalization of $74.23 billion, a P/E ratio of 10.63, a P/E/G ratio of 3.62 and a beta of 1.28. The stock’s 50 day moving average price is $128.16 and its 200 day moving average price is $126.16. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources declared that its board has approved a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

Insider Activity at EOG Resources

In related news, 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 completion of the sale, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. UBS Group decreased their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. 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 presently has a consensus rating of “Hold” and an average price target of $144.00.

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.