Freedom Investment Management Inc. Raises Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Freedom Investment Management Inc. increased its position in EOG Resources, Inc. (NYSE:EOG) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,404 shares of the energy exploration company’s stock after buying an additional 179 shares during the quarter. Freedom Investment Management Inc.’s holdings in EOG Resources were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EOG. Cape ANN Savings Bank boosted 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 boosted 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 acquiring an additional 81 shares in the last quarter. Bailard Inc. boosted its holdings 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 acquiring an additional 81 shares in the last quarter. Everpar Advisors LLC boosted its holdings in EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares in the last quarter. Finally, Altman Advisors Inc. boosted its holdings in EOG Resources by 0.7% in the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after acquiring an additional 85 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated 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 owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of research reports. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $147.00 to $149.00 in a report on Monday, November 18th. Evercore ISI dropped their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Barclays dropped their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Fifteen research 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 stock. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and an average price target of $144.20.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $133.09 on Friday. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market cap of $74.86 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth 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. The business has a 50-day simple moving average of $128.67 and a two-hundred day simple moving average of $126.27.

EOG Resources announced that its board has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The firm 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 of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.93%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources 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.