EOG Resources, Inc. (NYSE:EOG) Position Lifted by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. raised its stake in EOG Resources, Inc. (NYSE:EOG) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 44,841 shares of the energy exploration company’s stock after purchasing an additional 3,205 shares during the period. ZWJ Investment Counsel Inc.’s holdings in EOG Resources were worth $5,497,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EOG. Smart Money Group LLC increased its holdings in EOG Resources by 7.7% in the fourth quarter. Smart Money Group LLC now owns 4,827 shares of the energy exploration company’s stock valued at $592,000 after buying an additional 346 shares during the last quarter. Ellsworth Advisors LLC grew its position in shares of EOG Resources by 4.9% in the 4th quarter. Ellsworth Advisors LLC now owns 13,665 shares of the energy exploration company’s stock worth $1,675,000 after acquiring an additional 633 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of EOG Resources by 10.0% in the 4th quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock valued at $114,000 after acquiring an additional 84 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $1,218,000. Finally, My Legacy Advisors LLC lifted its stake in EOG Resources by 5.7% during the fourth quarter. My Legacy Advisors LLC now owns 6,428 shares of the energy exploration company’s stock worth $788,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of research reports. 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Truist Financial upped their target price on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Mizuho cut their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $143.48.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on 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 directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of EOG Resources 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $136.70 on Tuesday. The stock has a market cap of $76.89 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.29. 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 12 month low of $108.94 and a 12 month high of $139.67. The stock’s 50 day moving average price is $128.96 and its 200 day moving average price is $127.07.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.85%. 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 payout ratio is currently 31.40%.

EOG Resources declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.