Grove Bank & Trust Raises Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Grove Bank & Trust boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 928 shares of the energy exploration company’s stock after buying an additional 84 shares during the quarter. Grove Bank & Trust’s holdings in EOG Resources were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EOG. Sei Investments Co. raised its position in EOG Resources by 0.4% in the 2nd quarter. Sei Investments Co. now owns 301,099 shares of the energy exploration company’s stock worth $37,900,000 after buying an additional 1,120 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of EOG Resources by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 242,948 shares of the energy exploration company’s stock valued at $30,580,000 after purchasing an additional 1,787 shares during the last quarter. ProShare Advisors LLC increased its position in shares of EOG Resources by 7.6% during the 2nd quarter. ProShare Advisors LLC now owns 111,102 shares of the energy exploration company’s stock valued at $13,984,000 after purchasing an additional 7,873 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of EOG Resources by 400.5% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,953 shares of the energy exploration company’s stock valued at $372,000 after purchasing an additional 2,363 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of EOG Resources by 2.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,078 shares of the energy exploration company’s stock valued at $771,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EOG. Scotiabank reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Citigroup increased their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Finally, KeyCorp reduced their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Stock Down 1.0 %

Shares of EOG opened at $136.70 on Tuesday. The company has a market cap of $76.89 billion, a PE ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29. The business has a fifty day moving average of $128.96 and a 200 day moving average of $127.07. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week 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.

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 2.85%. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources 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 sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now 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 disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.