Centric Wealth Management Takes Position in EOG Resources, Inc. (NYSE:EOG)

Centric Wealth Management bought a new position in EOG Resources, Inc. (NYSE:EOG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,126 shares of the energy exploration company’s stock, valued at approximately $1,924,000.

Several other hedge funds have also recently modified their holdings of EOG. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the 3rd quarter worth $26,000. Riverview Trust Co bought a new position in EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources during the 2nd quarter valued at approximately $28,000. Eastern Bank bought a new stake in EOG Resources in the 3rd quarter worth approximately $28,000. Finally, Gladius Capital Management LP purchased a new stake in shares of EOG Resources during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Barclays dropped their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Susquehanna reduced their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Piper Sandler cut shares of 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 report on Monday, November 18th. Fifteen investment 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 stock. According to MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus price target of $144.20.

EOG Resources Price Performance

Shares of NYSE EOG opened at $133.09 on Friday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. 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 firm has a market cap of $74.86 billion, a P/E ratio of 10.72, a P/E/G ratio of 3.54 and a beta of 1.28. The business’s 50 day moving average price is $128.67 and its 200 day moving average price is $126.27.

EOG Resources announced that its board has approved a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. 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 2.93%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 29.31%.

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.