Farmers Trust Co. Sells 448 Shares of EOG Resources, Inc. (NYSE:EOG)

Farmers Trust Co. lowered its position in EOG Resources, Inc. (NYSE:EOG) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 26,046 shares of the energy exploration company’s stock after selling 448 shares during the quarter. Farmers Trust Co.’s holdings in EOG Resources were worth $3,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EOG. Douglas Lane & Associates LLC lifted its holdings in EOG Resources by 2.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 511,493 shares of the energy exploration company’s stock valued at $62,699,000 after buying an additional 10,404 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of EOG Resources by 25.6% during the fourth quarter. Fulton Bank N.A. now owns 5,266 shares of the energy exploration company’s stock valued at $646,000 after acquiring an additional 1,073 shares in the last quarter. Norway Savings Bank boosted its holdings in shares of EOG Resources by 5.1% in the fourth quarter. Norway Savings Bank now owns 8,373 shares of the energy exploration company’s stock valued at $1,026,000 after purchasing an additional 410 shares during the period. Fortem Financial Group LLC grew its stake in EOG Resources by 1.8% in the fourth quarter. Fortem Financial Group LLC now owns 9,234 shares of the energy exploration company’s stock worth $1,132,000 after purchasing an additional 164 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in EOG Resources by 108.3% during the 4th quarter. CWA Asset Management Group LLC now owns 17,647 shares of the energy exploration company’s stock worth $2,163,000 after purchasing an additional 9,175 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EOG shares. KeyCorp lowered their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial upped their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Morgan Stanley lowered their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Evercore ISI cut their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $143.71.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction 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. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

EOG Resources Price Performance

EOG stock traded up $0.64 during mid-day trading on Wednesday, reaching $128.20. 1,753,962 shares of the company’s stock were exchanged, compared to its average volume of 2,613,657. The company has a market cap of $72.11 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The stock’s 50 day moving average is $127.48 and its 200 day moving average is $126.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 3.04%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

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