Sanctuary Advisors LLC Raises Position in EOG Resources, Inc. (NYSE:EOG)

Sanctuary Advisors LLC boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,111 shares of the energy exploration company’s stock after buying an additional 7,508 shares during the period. Sanctuary Advisors LLC’s holdings in EOG Resources were worth $16,377,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Swedbank AB boosted its stake in EOG Resources by 3,078.4% during the 2nd quarter. Swedbank AB now owns 96,306 shares of the energy exploration company’s stock worth $12,122,000 after purchasing an additional 93,276 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in EOG Resources by 35.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 425,265 shares of the energy exploration company’s stock worth $53,528,000 after purchasing an additional 112,017 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $35,000. Miracle Mile Advisors LLC grew its position in shares of EOG Resources by 14.1% in the second quarter. Miracle Mile Advisors LLC now owns 6,287 shares of the energy exploration company’s stock valued at $791,000 after purchasing an additional 777 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of EOG Resources by 63.8% in the second quarter. Blue Trust Inc. now owns 8,104 shares of the energy exploration company’s stock valued at $1,036,000 after purchasing an additional 3,157 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Down 0.8 %

Shares of NYSE EOG opened at $126.60 on Friday. The stock has a market cap of $71.21 billion, a P/E ratio of 10.19, a PEG ratio of 3.39 and a beta of 1.29. The business’s fifty day simple moving average is $129.36 and its 200-day simple moving average is $126.37. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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. Shareholders of record on Friday, January 17th will be given a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 3.08%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI dropped their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Susquehanna cut their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Barclays reduced 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 research note on Thursday, October 3rd. Truist Financial increased their price target on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $144.20.

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.