Independent Advisor Alliance Raises Stake in EOG Resources, Inc. (NYSE:EOG)

Independent Advisor Alliance raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,958 shares of the energy exploration company’s stock after purchasing an additional 909 shares during the quarter. Independent Advisor Alliance’s holdings in EOG Resources were worth $3,437,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the third quarter valued at approximately $26,000. Riverview Trust Co purchased a new position in EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources during the second quarter valued at approximately $28,000. Eastern Bank bought a new stake in shares of EOG Resources during the third quarter valued at approximately $28,000. Finally, Gladius Capital Management LP bought a new stake in shares of EOG Resources during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EOG shares. UBS Group reduced their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. KeyCorp reduced their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Truist Financial lifted their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average target price of $144.00.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

EOG Resources Stock Down 3.2 %

NYSE EOG opened at $131.98 on Tuesday. 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 company has a fifty day moving average of $128.16 and a two-hundred day moving average of $126.16. The firm has a market capitalization of $74.23 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 3.62 and a beta of 1.28. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

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 dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.95%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources announced that its Board of Directors has initiated 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 purchase up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.