STAR Financial Bank Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

STAR Financial Bank cut its stake in EOG Resources, Inc. (NYSE:EOG) by 13.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,712 shares of the energy exploration company’s stock after selling 435 shares during the quarter. STAR Financial Bank’s holdings in EOG Resources were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cape ANN Savings Bank raised its holdings in EOG Resources by 0.9% in the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after acquiring an additional 79 shares in the last quarter. CVA Family Office LLC increased its holdings in EOG Resources by 11.0% in the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock valued at $103,000 after buying an additional 81 shares during the last quarter. Bailard Inc. raised its stake in EOG Resources by 0.4% in the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares in the last quarter. Everpar Advisors LLC lifted its holdings in EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. boosted its position in shares of EOG Resources by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after acquiring an additional 85 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG Resources stock opened at $136.23 on Thursday. The company has a market cap of $76.62 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock’s 50-day moving average is $127.27 and its 200-day moving average is $126.10.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

EOG has been the subject of several recent analyst reports. Susquehanna decreased their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their target price for the company from $147.00 to $149.00 in a report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $142.30.

Insider Activity at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

EOG Resources Company 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.