Cadence Bank Has $10.87 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Cadence Bank increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,442 shares of the energy exploration company’s stock after purchasing an additional 1,294 shares during the period. EOG Resources makes up about 0.7% of Cadence Bank’s holdings, making the stock its 27th biggest position. Cadence Bank’s holdings in EOG Resources were worth $10,872,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DRW Securities LLC raised its holdings in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC lifted its holdings in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares in the last quarter. University of Texas Texas AM Investment Management Co. grew its position in EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after purchasing an additional 10,618 shares during the period. KBC Group NV increased its stake in EOG Resources by 11.4% during the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Performance

NYSE:EOG opened at $132.54 on Wednesday. The business’s fifty day moving average is $128.34 and its 200 day moving average is $126.18. The firm has a market cap of $74.55 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 3.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.94%. EOG Resources’s dividend payout ratio is currently 29.31%.

EOG Resources declared that its board has approved a share 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 generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, 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. Fifteen equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.20.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the 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. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.