Eastern Bank Boosts Stake in EOG Resources, Inc. (NYSE:EOG)

Eastern Bank lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 198.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 677 shares of the energy exploration company’s stock after purchasing an additional 450 shares during the quarter. Eastern Bank’s holdings in EOG Resources were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EOG. Fulcrum Capital LLC increased its position in shares of EOG Resources by 1.9% during the fourth quarter. Fulcrum Capital LLC now owns 44,777 shares of the energy exploration company’s stock valued at $5,489,000 after acquiring an additional 837 shares during the last quarter. Wedmont Private Capital increased its holdings in EOG Resources by 13.4% in the 4th quarter. Wedmont Private Capital now owns 7,811 shares of the energy exploration company’s stock valued at $1,026,000 after purchasing an additional 924 shares during the last quarter. Brookstone Capital Management raised its position in EOG Resources by 105.5% in the fourth quarter. Brookstone Capital Management now owns 3,623 shares of the energy exploration company’s stock valued at $444,000 after purchasing an additional 1,860 shares during the period. Fiduciary Alliance LLC purchased a new position in shares of EOG Resources during the fourth quarter worth $699,000. Finally, Matrix Trust Co grew its stake in shares of EOG Resources by 700.6% in the fourth quarter. Matrix Trust Co now owns 2,778 shares of the energy exploration company’s stock valued at $341,000 after buying an additional 2,431 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Up 1.1 %

NYSE:EOG opened at $135.91 on Wednesday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. 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 stock has a fifty day moving average price of $128.48 and a two-hundred day moving average price of $126.84. The stock has a market capitalization of $76.44 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 3.37 and a beta of 1.29.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.87%. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

EOG Resources declared that its board has authorized a stock buyback 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 generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EOG shares. Citigroup raised their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial upped their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday. Evercore ISI decreased their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $143.48.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’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 owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by 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.