Pinnacle Financial Partners Inc Raises Position in EOG Resources, Inc. (NYSE:EOG)

Pinnacle Financial Partners Inc increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,111 shares of the energy exploration company’s stock after acquiring an additional 5,721 shares during the period. Pinnacle Financial Partners Inc’s holdings in EOG Resources were worth $24,108,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on 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 in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EOG shares. Susquehanna decreased their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Truist Financial lifted their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday. Evercore ISI lowered their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $142.20.

EOG Resources Price Performance

Shares of EOG opened at $133.10 on Wednesday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The business has a 50-day moving average of $125.47 and a 200-day moving average of $125.92. The company has a market capitalization of $74.86 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 3.53 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources declared that its board has authorized a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. 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. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

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.