SevenBridge Financial Group LLC Purchases 901 Shares of EOG Resources, Inc. (NYSE:EOG)

SevenBridge Financial Group LLC raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,706 shares of the energy exploration company’s stock after purchasing an additional 901 shares during the period. SevenBridge Financial Group LLC’s holdings in EOG Resources were worth $3,288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in EOG. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EOG Resources in the 2nd quarter worth approximately $106,990,000. Legal & General Group Plc lifted its holdings in EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after buying an additional 403,676 shares during the period. National Bank of Canada FI boosted its position in EOG Resources by 237.9% during the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after acquiring an additional 343,527 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of EOG Resources by 42.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after acquiring an additional 333,947 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of EOG Resources in the 2nd quarter worth $36,010,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

EOG opened at $136.35 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a 50 day moving average of $127.95 and a two-hundred day moving average of $126.18. The firm has a market capitalization of $76.69 billion, a PE ratio of 10.98, a P/E/G ratio of 3.59 and a beta of 1.28.

EOG Resources declared that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated 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 directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This trade represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EOG. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Scotiabank lowered their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Truist Financial boosted their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Susquehanna lowered their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Evercore ISI reduced their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Fifteen research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.00.

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.