EP Wealth Advisors LLC Grows Holdings in EOG Resources, Inc. (NYSE:EOG)

EP Wealth Advisors LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 179.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,737 shares of the energy exploration company’s stock after purchasing an additional 11,391 shares during the quarter. EP Wealth Advisors LLC’s holdings in EOG Resources were worth $2,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EOG. Fisher Asset Management LLC raised its position in EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after purchasing an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EOG Resources in the 2nd quarter valued at $106,990,000. Legal & General Group Plc raised its position in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the last quarter. National Bank of Canada FI raised its position in EOG Resources by 237.9% in the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after purchasing an additional 343,527 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in EOG Resources by 42.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after purchasing an additional 333,947 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 0.0 %

EOG opened at $127.86 on Tuesday. The firm has a 50 day moving average price of $129.46 and a 200 day moving average price of $126.34. The company has a market cap of $71.91 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 3.40 and a beta of 1.29. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. 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 announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred 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 owns 43,532 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on EOG shares. JPMorgan Chase & Co. dropped 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 note on Thursday, September 12th. Raymond James boosted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Morgan Stanley dropped their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Susquehanna dropped their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. 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 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. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and a consensus price target of $144.20.

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.