EOG Resources, Inc. (NYSE:EOG) Shares Bought by River Street Advisors LLC

16 Nov 2024, 11:48 by Doug Wharley · The Cerbat Gem

River Street Advisors LLC lifted its position in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,398 shares of the energy exploration company’s stock after buying an additional 102 shares during the quarter. River Street Advisors LLC’s holdings in EOG Resources were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the third quarter worth about $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new stake in EOG Resources in the 3rd quarter valued at approximately $28,000. Finally, Gladius Capital Management LP acquired a new stake in EOG Resources during the 2nd quarter valued at $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

NYSE EOG traded down $0.63 during trading hours on Friday, hitting $134.56. The company had a trading volume of 2,279,909 shares, compared to its average volume of 3,134,220. 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 $75.68 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 3.56 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. The business has a fifty day simple moving average of $126.25 and a 200-day simple moving average of $126.03.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. EOG Resources’s payout ratio is currently 29.31%.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. KeyCorp cut their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut 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 report on Thursday, September 12th. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday. Wells Fargo & Company cut their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, Truist Financial increased their price target on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $142.20.

Get Our Latest Stock Report on EOG Resources

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 represents a 12.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at $7,648,035.20. This represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

About EOG Resources

(Free Report)

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.