Pin Oak Investment Advisors Inc. Has $2.87 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Pin Oak Investment Advisors Inc. cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,334 shares of the energy exploration company’s stock after selling 141 shares during the quarter. EOG Resources comprises 2.6% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 9th biggest holding. Pin Oak Investment Advisors Inc.’s holdings in EOG Resources were worth $2,868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources during the 3rd quarter valued at $26,000. Riverview Trust Co purchased a new position in EOG Resources during the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources during the second quarter worth about $28,000. Eastern Bank purchased a new stake in EOG Resources in the third quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new position in shares of EOG Resources during the second quarter valued at approximately $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EOG shares. Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $147.00 to $149.00 in a research note on Monday, November 18th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. JPMorgan Chase & Co. lowered their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Morgan Stanley cut their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $144.20.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

EOG Resources Stock Up 0.4 %

EOG opened at $133.07 on Thursday. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The firm’s 50 day simple moving average is $128.52 and its two-hundred day simple moving average is $126.22. 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 company has a market capitalization of $74.85 billion, a PE ratio of 10.71, a PEG ratio of 3.51 and a beta of 1.28.

EOG Resources Increases Dividend

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

EOG Resources announced that its Board of Directors has initiated a share buyback program 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 programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.