Confluence Investment Management LLC Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Confluence Investment Management LLC cut its stake in EOG Resources, Inc. (NYSE:EOG) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,560 shares of the energy exploration company’s stock after selling 1,958 shares during the quarter. Confluence Investment Management LLC’s holdings in EOG Resources were worth $23,359,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

EOG has been the subject of a number of analyst reports. Citigroup upped their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial increased their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, UBS Group cut their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Thirteen equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.50.

Insider Buying and Selling at EOG Resources

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 completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

EOG Resources Trading Up 1.8 %

Shares of EOG traded up $2.15 during midday trading on Thursday, reaching $124.73. The company had a trading volume of 787,054 shares, compared to its average volume of 3,140,217. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year 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 firm has a 50 day simple moving average of $127.18 and a 200-day simple moving average of $126.41. The stock has a market cap of $70.15 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29.

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 paid a dividend of $0.975 per share. 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 dividend on an annualized basis and a yield of 3.13%. EOG Resources’s payout ratio is 31.40%.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.