Ellsworth Advisors LLC Acquires 633 Shares of EOG Resources, Inc. (NYSE:EOG)

Ellsworth Advisors LLC raised its stake in shares of EOG Resources, Inc. (NYSE:EOGFree Report) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,665 shares of the energy exploration company’s stock after acquiring an additional 633 shares during the period. Ellsworth Advisors LLC’s holdings in EOG Resources were worth $1,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after acquiring an additional 75,194 shares during the last quarter. Geode Capital Management LLC grew its position in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake 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 valued at $609,300,000 after buying an additional 403,676 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 1.0 %

EOG opened at $136.70 on Monday. 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 stock’s fifty day moving average is $128.96 and its two-hundred day moving average is $127.07. The company has a market capitalization of $76.89 billion, a P/E ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.29. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources announced that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The company 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. 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%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is presently 29.31%.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was 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 approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, 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. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Piper Sandler decreased their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Barclays dropped their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Scotiabank decreased their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus price target of $143.48.

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About EOG Resources

(Free Report)

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.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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