Norway Savings Bank Boosts Stake in EOG Resources, Inc. (NYSE:EOG)

Norway Savings Bank lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 5.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,373 shares of the energy exploration company’s stock after acquiring an additional 410 shares during the quarter. Norway Savings Bank’s holdings in EOG Resources were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Fortem Financial Group LLC raised its holdings in shares of EOG Resources by 1.8% during the fourth quarter. Fortem Financial Group LLC now owns 9,234 shares of the energy exploration company’s stock valued at $1,132,000 after purchasing an additional 164 shares during the last quarter. CWA Asset Management Group LLC raised its stake in EOG Resources by 108.3% during the 4th quarter. CWA Asset Management Group LLC now owns 17,647 shares of the energy exploration company’s stock valued at $2,163,000 after buying an additional 9,175 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of EOG Resources by 73.7% during the 4th quarter. Everence Capital Management Inc. now owns 30,780 shares of the energy exploration company’s stock valued at $3,773,000 after buying an additional 13,060 shares during the period. GAMMA Investing LLC boosted its stake in shares of EOG Resources by 7.4% in the 4th quarter. GAMMA Investing LLC now owns 8,609 shares of the energy exploration company’s stock worth $1,055,000 after buying an additional 594 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in EOG Resources by 81.3% during the fourth quarter. Versant Capital Management Inc now owns 1,131 shares of the energy exploration company’s stock valued at $139,000 after acquiring an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

EOG has been the subject of several recent research reports. Mizuho cut their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. KeyCorp cut their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial lifted their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. UBS Group decreased their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average price target of $143.71.

EOG Resources Trading Up 1.0 %

EOG traded up $1.23 on Tuesday, hitting $127.62. The company had a trading volume of 1,631,725 shares, compared to its average volume of 2,539,532. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. 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 business’s fifty day simple moving average is $127.33 and its 200 day simple moving average is $126.57. The company has a market cap of $71.78 billion, a PE ratio of 10.28, a PEG ratio of 3.39 and a beta of 1.29.

EOG Resources announced that its Board of Directors has authorized a share buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 3.06%. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

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.