Wedmont Private Capital Increases Position in EOG Resources, Inc. (NYSE:EOG)

Wedmont Private Capital raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,811 shares of the energy exploration company’s stock after purchasing an additional 924 shares during the period. Wedmont Private Capital’s holdings in EOG Resources were worth $1,026,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the 3rd quarter worth approximately $26,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources in the 3rd quarter valued at $31,000. HM Payson & Co. grew its holdings in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in EOG Resources in the 3rd quarter worth $43,000. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EOG shares. Mizuho reduced their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Truist Financial raised their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price target on shares of EOG Resources in a research report on Monday, January 6th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Performance

EOG stock opened at $134.51 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $75.66 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. The stock’s 50 day simple moving average is $128.21 and its 200 day simple moving average is $126.77. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources announced that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication 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. Shareholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 31.40%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the 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 sale, the director now directly 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

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.