49 Wealth Management LLC Invests $200,000 in EOG Resources, Inc. (NYSE:EOG)

49 Wealth Management LLC acquired a new stake in EOG Resources, Inc. (NYSE:EOG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,631 shares of the energy exploration company’s stock, valued at approximately $200,000.

Several other institutional investors have also bought and sold shares of EOG. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EOG Resources during the second quarter worth $106,990,000. Legal & General Group Plc lifted its position in shares of EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares in the last quarter. National Bank of Canada FI lifted its position in shares of EOG Resources by 237.9% during the second quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock worth $61,741,000 after acquiring an additional 343,527 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after acquiring an additional 333,947 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of EOG Resources by 33.3% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,211,782 shares of the energy exploration company’s stock worth $154,914,000 after acquiring an additional 303,031 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

EOG has been the topic of several research analyst reports. Scotiabank decreased their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company upped their price target on shares of EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday. Susquehanna decreased their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.00.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $136.35 on Friday. The company has a market cap of $76.69 billion, a PE ratio of 10.98, a P/E/G ratio of 3.58 and a beta of 1.28. The business has a 50 day moving average of $127.95 and a 200 day moving average of $126.20. 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 announced 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 represents a $3.90 annualized dividend and a dividend yield of 2.86%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources announced that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the company’s 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 directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’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 sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade 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.

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.