Hennessy Advisors Inc. Has $3.34 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Hennessy Advisors Inc. cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 7.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,230 shares of the energy exploration company’s stock after selling 2,300 shares during the quarter. Hennessy Advisors Inc.’s holdings in EOG Resources were worth $3,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new position in EOG Resources during the fourth quarter valued at approximately $27,000. Empirical Asset Management LLC boosted its stake in shares of EOG Resources by 19.9% during the 4th quarter. Empirical Asset Management LLC now owns 9,038 shares of the energy exploration company’s stock valued at $1,108,000 after buying an additional 1,503 shares during the period. Fermata Advisors LLC purchased a new position in shares of EOG Resources during the 4th quarter valued at $443,000. Ritholtz Wealth Management increased its stake in shares of EOG Resources by 40.0% in the fourth quarter. Ritholtz Wealth Management now owns 5,910 shares of the energy exploration company’s stock worth $724,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Sendero Wealth Management LLC increased its stake in shares of EOG Resources by 2,695.2% in the fourth quarter. Sendero Wealth Management LLC now owns 66,387 shares of the energy exploration company’s stock worth $8,138,000 after acquiring an additional 64,012 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other EOG Resources 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 value of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EOG has been the subject of several research reports. Truist Financial lifted their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Barclays cut their price target 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. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Finally, Raymond James raised their target price on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $143.48.

EOG Resources Price Performance

NYSE:EOG opened at $136.70 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a fifty day moving average price of $128.91 and a 200 day moving average price of $126.99. The stock has a market cap of $76.89 billion, a P/E ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.29.

EOG Resources declared that its board has approved a stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 29.31%.

EOG Resources Company 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.