Ritholtz Wealth Management Buys 1,690 Shares of EOG Resources, Inc. (NYSE:EOG)

Ritholtz Wealth Management increased its stake in EOG Resources, Inc. (NYSE:EOG) by 40.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,910 shares of the energy exploration company’s stock after acquiring an additional 1,690 shares during the period. Ritholtz Wealth Management’s holdings in EOG Resources were worth $724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the 3rd quarter valued at about $26,000. Eastern Bank purchased a new position in EOG Resources during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in EOG Resources during the 3rd quarter valued at about $31,000. HM Payson & Co. increased its holdings in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares during the period. Finally, Matrix Trust Co purchased a new position in EOG Resources during the 3rd quarter valued at about $43,000. Institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EOG. Citigroup boosted their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and set a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Scotiabank reduced their target price on 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 target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Performance

EOG stock opened at $136.70 on Tuesday. The stock has a market capitalization of $76.89 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $128.96 and its 200 day simple moving average is $127.07.

EOG Resources Increases Dividend

The firm 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. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.85%. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources declared that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

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.