Atlantic Union Bankshares Corp Raises Stake in EOG Resources, Inc. (NYSE:EOG)

Atlantic Union Bankshares Corp lifted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 26,188 shares of the energy exploration company’s stock after buying an additional 1,442 shares during the period. Atlantic Union Bankshares Corp’s holdings in EOG Resources were worth $3,219,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources in the third quarter valued at $26,000. Riverview Trust Co purchased a new stake in EOG Resources in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 2nd quarter valued at about $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE EOG opened at $133.28 on Friday. The business has a 50 day moving average price of $128.82 and a two-hundred day moving average price of $126.30. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market cap of $74.96 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.54 and a beta of 1.28. 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 declared 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 represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 29.31%.

EOG Resources declared that its board has approved a share buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley cut their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Susquehanna cut their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Truist Financial boosted their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $144.20.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated 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 owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.