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

Riverstone Advisors LLC decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 20.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,194 shares of the energy exploration company’s stock after selling 2,323 shares during the quarter. EOG Resources comprises approximately 0.7% of Riverstone Advisors LLC’s holdings, making the stock its 22nd largest position. Riverstone Advisors LLC’s holdings in EOG Resources were worth $1,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its position in shares of EOG Resources by 15.5% in the third quarter. Axxcess Wealth Management LLC now owns 21,057 shares of the energy exploration company’s stock valued at $2,589,000 after acquiring an additional 2,820 shares during the period. Sigma Planning Corp boosted its holdings in EOG Resources by 4.3% in the 3rd quarter. Sigma Planning Corp now owns 6,242 shares of the energy exploration company’s stock valued at $767,000 after purchasing an additional 259 shares during the period. Covestor Ltd grew its position in EOG Resources by 11.2% in the 3rd quarter. Covestor Ltd now owns 1,078 shares of the energy exploration company’s stock worth $133,000 after purchasing an additional 109 shares during the last quarter. RKL Wealth Management LLC increased its holdings in shares of EOG Resources by 11.9% during the 3rd quarter. RKL Wealth Management LLC now owns 20,008 shares of the energy exploration company’s stock worth $2,460,000 after purchasing an additional 2,133 shares during the period. Finally, Atria Investments Inc raised its position in shares of EOG Resources by 2.2% during the third quarter. Atria Investments Inc now owns 48,877 shares of the energy exploration company’s stock valued at $6,008,000 after buying an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Trading Up 6.1 %

EOG opened at $134.12 on Friday. 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 price of $125.19 and a two-hundred day moving average price of $126.08. The stock has a market capitalization of $76.26 billion, a PE ratio of 10.80, a PEG ratio of 3.35 and a beta of 1.28. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11.

EOG Resources declared that its Board of Directors has initiated a share 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 purchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently disclosed 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. This represents a $3.90 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 31.40%.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction 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 completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EOG. Piper Sandler lowered their price target on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Truist Financial lowered their price objective on EOG Resources from $130.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Sanford C. Bernstein reduced their target price on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Wolfe Research started coverage on shares of EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Susquehanna reduced their price objective 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. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.20.

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.