Burney Co. Purchases 1,510 Shares of EOG Resources, Inc. (NYSE:EOG)

Burney Co. boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 73.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,559 shares of the energy exploration company’s stock after buying an additional 1,510 shares during the period. Burney Co.’s holdings in EOG Resources were worth $436,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. DRW Securities LLC raised its stake in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after acquiring an additional 13,324 shares during the last quarter. Caprock Group LLC raised its position in EOG Resources by 7.7% during the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the last quarter. World Investment Advisors LLC acquired a new position in EOG Resources during the 3rd quarter worth about $730,000. University of Texas Texas AM Investment Management Co. grew its position in shares of EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after buying an additional 10,618 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after buying an additional 12,210 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EOG has been the topic of several analyst reports. Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Piper Sandler lowered their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price target on shares of EOG Resources in a research report on Monday, January 6th. Finally, StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Trading Down 1.0 %

NYSE:EOG opened at $136.70 on Friday. 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, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a market cap of $76.89 billion, a PE ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.29. The firm has a 50-day moving average of $128.91 and a 200-day moving average of $126.99.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.85%. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s 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 transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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.