Private Trust Co. NA Increases Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Private Trust Co. NA boosted its stake in EOG Resources, Inc. (NYSE:EOG) by 9.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,683 shares of the energy exploration company’s stock after buying an additional 144 shares during the quarter. Private Trust Co. NA’s holdings in EOG Resources were worth $207,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC raised its holdings in shares of EOG Resources by 74.5% in the third quarter. Horizon Kinetics Asset Management LLC now owns 10,068 shares of the energy exploration company’s stock valued at $1,238,000 after purchasing an additional 4,300 shares during the last quarter. DRW Securities LLC increased its stake in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of EOG Resources by 3.4% during the 3rd quarter. Independent Advisor Alliance now owns 27,958 shares of the energy exploration company’s stock worth $3,437,000 after buying an additional 909 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in EOG Resources by 11.0% in the third quarter. Daiwa Securities Group Inc. now owns 69,879 shares of the energy exploration company’s stock worth $8,590,000 after purchasing an additional 6,919 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $147.00 to $149.00 in a research report on Monday, November 18th. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley decreased their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Barclays dropped their price objective on 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. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $144.20.

EOG Resources Stock Performance

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 company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $74.86 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28. The firm’s 50 day simple moving average is $128.67 and its 200 day simple moving average is $126.27.

EOG Resources announced that its Board of Directors has initiated a stock repurchase plan 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 plans are typically an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

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.