Freedom Investment Management Inc. Buys 179 Shares of EOG Resources, Inc. (NYSE:EOG)

Freedom Investment Management Inc. increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,404 shares of the energy exploration company’s stock after acquiring an additional 179 shares during the quarter. Freedom Investment Management Inc.’s holdings in EOG Resources were worth $787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new position in EOG Resources during the first quarter worth $312,000. Hancock Whitney Corp acquired a new position in EOG Resources during the first quarter worth $208,000. Citizens Financial Group Inc. RI acquired a new position in EOG Resources during the first quarter worth $374,000. Sanibel Captiva Trust Company Inc. raised its holdings in EOG Resources by 10.3% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 3,125 shares of the energy exploration company’s stock worth $400,000 after buying an additional 291 shares during the last quarter. Finally, Swedbank AB acquired a new position in EOG Resources during the first quarter worth $387,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 0.4 %

Shares of EOG Resources stock opened at $133.09 on Friday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a market cap of $74.86 billion, a PE ratio of 10.72, a PEG ratio of 3.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a 50 day simple moving average of $128.67 and a two-hundred day simple moving average of $126.27.

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

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 a positive change 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 presently 29.31%.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on EOG shares. Susquehanna lowered their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Citigroup upped their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Truist Financial increased their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Fifteen investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $144.20.

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.