Fifth Third Wealth Advisors LLC Decreases Stake in EOG Resources, Inc. (NYSE:EOG)

Fifth Third Wealth Advisors LLC decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,309 shares of the energy exploration company’s stock after selling 374 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in EOG Resources were worth $776,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the third quarter worth approximately $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 2nd quarter valued at about $28,000. Eastern Bank acquired a new position in shares of EOG Resources during the 3rd quarter valued at about $28,000. Finally, Gladius Capital Management LP purchased a new stake in shares of EOG Resources in the second quarter valued at about $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays reduced their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Truist Financial lifted their price target on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. UBS Group reduced their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company decreased their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $142.30.

EOG Resources Trading Down 1.0 %

EOG opened at $135.19 on Wednesday. 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 stock has a market capitalization of $76.04 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.57 and a beta of 1.28. The business has a fifty day moving average price of $126.90 and a 200 day moving average price of $126.03. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources declared that its board has initiated a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in 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 generally an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

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.