Riverstone Advisors LLC Has $1.13 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Riverstone Advisors LLC lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 20.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,194 shares of the energy exploration company’s stock after selling 2,323 shares during the period. EOG Resources makes up 0.7% of Riverstone Advisors LLC’s portfolio, making the stock its 22nd biggest position. Riverstone Advisors LLC’s holdings in EOG Resources were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital World Investors lifted its holdings in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after acquiring an additional 1,361,538 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of EOG Resources during the 2nd quarter valued at about $106,990,000. Capital International Investors grew its position in shares of EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after purchasing an additional 766,056 shares during the period. Legal & General Group Plc increased its stake in EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after buying an additional 373,365 shares during the period. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EOG. Susquehanna reduced their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. UBS Group reduced their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Wolfe Research began coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Piper Sandler decreased their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Thirteen research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.20.

EOG Resources Stock Performance

Shares of EOG stock opened at $134.12 on Friday. The company has a fifty day moving average price of $125.19 and a two-hundred day moving average price of $126.08. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The stock has a market cap of $76.26 billion, a P/E ratio of 10.80, a P/E/G ratio of 3.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

EOG Resources declared that its board has approved a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Company 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.