EOG Resources, Inc. (NYSE:EOG) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,070,531 shares of the energy exploration company’s stock after selling 15,401 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.19% of EOG Resources worth $131,600,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EOG shares. JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Barclays lowered their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial raised their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, KeyCorp lowered their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $144.20.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

EOG Resources Trading Up 0.1 %

Shares of EOG stock opened at $133.26 on Monday. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $128.82 and a 200-day simple moving average of $126.26. The stock has a market cap of $74.95 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.54 and a beta of 1.28.

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 paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources announced that its Board of Directors has approved a share buyback plan 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are 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.