EOG Resources, Inc. (NYSE:EOG) Position Increased by Graypoint LLC

Graypoint LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 13.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,579 shares of the energy exploration company’s stock after acquiring an additional 536 shares during the period. Graypoint LLC’s holdings in EOG Resources were worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter valued at $26,000. Eastern Bank bought a new stake in shares of EOG Resources during the third quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources in the third quarter worth about $31,000. HM Payson & Co. grew its position in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new stake in shares of EOG Resources during the 3rd quarter worth about $43,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on EOG. KeyCorp lowered their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Truist Financial upped their price objective on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Evercore ISI cut their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.71.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

EOG Resources Price Performance

NYSE EOG opened at $131.54 on Friday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a fifty day simple moving average of $127.97 and a 200 day simple moving average of $126.69. 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 cap of $73.98 billion, a P/E ratio of 10.59, a P/E/G ratio of 3.37 and a beta of 1.29.

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 is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources declared that its board has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.