United Capital Management of KS Inc. Buys 3,459 Shares of EOG Resources, Inc. (NYSE:EOG)

United Capital Management of KS Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,564 shares of the energy exploration company’s stock after purchasing an additional 3,459 shares during the quarter. EOG Resources comprises 1.8% of United Capital Management of KS Inc.’s investment portfolio, making the stock its 19th biggest holding. United Capital Management of KS Inc.’s holdings in EOG Resources were worth $8,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in EOG Resources in the third quarter worth approximately $62,000. Arvest Investments Inc. raised its position in shares of EOG Resources by 17.3% during the third quarter. Arvest Investments Inc. now owns 13,005 shares of the energy exploration company’s stock worth $1,599,000 after purchasing an additional 1,919 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of EOG Resources by 28.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 28,584 shares of the energy exploration company’s stock worth $3,514,000 after purchasing an additional 6,300 shares in the last quarter. Baker Avenue Asset Management LP grew its position in EOG Resources by 1.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 72,885 shares of the energy exploration company’s stock valued at $8,960,000 after purchasing an additional 780 shares during the period. Finally, Colonial River Investments LLC bought a new stake in EOG Resources during the 3rd quarter valued at $310,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on EOG shares. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a report on Monday, October 14th. Truist Financial dropped their price target on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company decreased their price objective on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Scotiabank dropped their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Susquehanna cut their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $141.20.

Insider Activity at EOG Resources

In other EOG Resources 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 transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

EOG Resources Stock Up 6.1 %

EOG stock opened at $134.12 on Monday. The stock has a fifty day moving average of $125.19 and a 200-day moving average of $125.95. 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 market capitalization of $76.26 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12.

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 issued 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 yield of 2.91%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its Board of Directors has initiated a share buyback 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

EOG Resources Company 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.