Segment Wealth Management LLC Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

Segment Wealth Management LLC raised its position in EOG Resources, Inc. (NYSE:EOG) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,460 shares of the energy exploration company’s stock after purchasing an additional 586 shares during the period. Segment Wealth Management LLC’s holdings in EOG Resources were worth $14,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EOG. Sei Investments Co. raised its holdings in shares of EOG Resources by 0.4% in the 2nd quarter. Sei Investments Co. now owns 301,099 shares of the energy exploration company’s stock valued at $37,900,000 after acquiring an additional 1,120 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of EOG Resources by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 242,948 shares of the energy exploration company’s stock worth $30,580,000 after buying an additional 1,787 shares during the last quarter. ProShare Advisors LLC raised 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 buying an additional 7,873 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in EOG Resources by 400.5% during the second 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in EOG Resources by 2.1% during the second 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 in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Down 1.0 %

Shares of NYSE EOG opened at $136.70 on Tuesday. The stock has a market cap of $76.89 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 3.77 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 1 year low of $108.94 and a 1 year high of $139.67. The firm has a 50-day moving average of $128.96 and a 200 day moving average of $127.07.

EOG Resources declared that its board has initiated a stock 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management 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. Stockholders of record on Friday, January 17th will be given a $0.975 dividend. 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 dividend yield of 2.85%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is currently 31.40%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EOG has been the topic of several recent research reports. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Raymond James upped their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Truist Financial raised their price objective on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup raised their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $143.48.

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.