Fortem Financial Group LLC Trims Stake in EOG Resources, Inc. (NYSE:EOG)

Fortem Financial Group LLC reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 9,070 shares of the energy exploration company’s stock after selling 308 shares during the period. Fortem Financial Group LLC’s holdings in EOG Resources were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC purchased a new position in EOG Resources in the third quarter worth about $26,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the second quarter valued at about $28,000. Eastern Bank purchased a new stake in EOG Resources during the third quarter valued at approximately $28,000. Gladius Capital Management LP bought a new position in EOG Resources in the 2nd quarter worth $30,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of EOG Resources during the 3rd quarter valued at about $31,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 1.0 %

EOG opened at $126.62 on Wednesday. The stock has a market capitalization of $71.21 billion, a PE ratio of 10.19, a P/E/G ratio of 3.40 and a beta of 1.29. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The business’s 50 day moving average price is $129.46 and its 200 day moving average price is $126.34.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources declared that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

EOG has been the subject of several research analyst reports. Citigroup raised their target price 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. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Morgan Stanley decreased their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Truist Financial increased their price target on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $144.20.

Insider Activity

In related 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.