EOG Resources, Inc. (NYSE:EOG) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lessened its stake in EOG Resources, Inc. (NYSE:EOG) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,793 shares of the energy exploration company’s stock after selling 567 shares during the quarter. Insigneo Advisory Services LLC’s holdings in EOG Resources were worth $343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources in the 3rd quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in EOG Resources in the second quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources in the second quarter valued at $28,000. Eastern Bank acquired a new position in shares of EOG Resources during the 3rd quarter worth $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Trading Down 1.7 %

Shares of EOG opened at $127.81 on Monday. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market capitalization of $71.89 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 3.44 and a beta of 1.29. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $129.37 and its 200 day simple moving average is $126.31.

EOG Resources announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors 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. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction 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 transaction, the director now owns 43,532 shares of the company’s stock, 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 SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on EOG shares. Wells Fargo & Company raised their target price on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. Susquehanna reduced their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Truist Financial increased their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Citigroup boosted 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. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $144.20.

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.