Pekin Hardy Strauss Inc. Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Pekin Hardy Strauss Inc. trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 31,652 shares of the energy exploration company’s stock after selling 300 shares during the period. Pekin Hardy Strauss Inc.’s holdings in EOG Resources were worth $3,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Investment Counsel LLC grew its holdings in shares of EOG Resources by 9.3% during the 3rd quarter. Capital Investment Counsel LLC now owns 42,678 shares of the energy exploration company’s stock worth $5,246,000 after purchasing an additional 3,626 shares during the period. SevenBridge Financial Group LLC boosted its stake in EOG Resources by 3.8% during the third quarter. SevenBridge Financial Group LLC now owns 24,706 shares of the energy exploration company’s stock worth $3,288,000 after buying an additional 901 shares during the period. Alpha DNA Investment Management LLC increased its position in shares of EOG Resources by 3.1% during the third quarter. Alpha DNA Investment Management LLC now owns 16,185 shares of the energy exploration company’s stock valued at $1,990,000 after acquiring an additional 487 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of EOG Resources by 53.2% in the 3rd quarter. Larson Financial Group LLC now owns 4,213 shares of the energy exploration company’s stock valued at $518,000 after acquiring an additional 1,463 shares during the period. Finally, Sompo Asset Management Co. Ltd. raised its stake in shares of EOG Resources by 4.1% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 10,040 shares of the energy exploration company’s stock valued at $1,234,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial boosted their price objective on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and raised their target price for the company from $147.00 to $149.00 in a report on Monday, November 18th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $144.00.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value 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. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Trading Up 0.6 %

EOG opened at $136.35 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a market cap of $76.69 billion, a P/E ratio of 10.98, a PEG ratio of 3.59 and a beta of 1.28. The business’s 50-day simple moving average is $127.95 and its 200-day simple moving average is $126.18.

EOG Resources Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.86%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

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

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.