Quarry LP Buys 663 Shares of EOG Resources, Inc. (NYSE:EOG)

Quarry LP raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1,004.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 729 shares of the energy exploration company’s stock after purchasing an additional 663 shares during the period. Quarry LP’s holdings in EOG Resources were worth $90,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EOG. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the 3rd quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of EOG Resources in the second quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of EOG Resources in the second quarter worth $28,000. Eastern Bank bought a new stake in shares of EOG Resources during the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by corporate insiders.

EOG Resources Stock Performance

NYSE:EOG opened at $127.81 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. The stock’s fifty day moving average is $129.37 and its 200 day moving average is $126.31. The firm has a market capitalization of $71.89 billion, a PE ratio of 10.29, a PEG ratio of 3.44 and a beta of 1.29. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.05%. 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 dividend payout ratio (DPR) is 29.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI decreased their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Raymond James upped their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Finally, 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 research report on Monday, September 16th. Fifteen equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $144.20.

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.