Iowa State Bank Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Iowa State Bank lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,690 shares of the energy exploration company’s stock after selling 332 shares during the quarter. Iowa State Bank’s holdings in EOG Resources were worth $3,149,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources during the 3rd quarter worth about $26,000. Eastern Bank purchased a new stake in EOG Resources during the third quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in shares of EOG Resources in the 3rd quarter valued at $31,000. HM Payson & Co. boosted its position in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the period. Finally, Matrix Trust Co purchased a new position in EOG Resources in the third quarter valued at about $43,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction 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 in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EOG. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Piper Sandler lowered their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Truist Financial boosted their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Friday. Finally, KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $143.71.

EOG Resources Stock Up 0.5 %

Shares of NYSE:EOG traded up $0.58 during trading on Monday, reaching $127.15. 1,277,449 shares of the company traded hands, compared to its average volume of 2,374,436. The firm has a fifty day simple moving average of $127.25 and a 200 day simple moving average of $126.54. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. 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 $71.52 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29.

EOG Resources declared that its board has approved a stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The company 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 $0.975 dividend. 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 3.07%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 31.40%.

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.