HB Wealth Management LLC Grows Stake in EOG Resources, Inc. (NYSE:EOG)

HB Wealth Management LLC increased its stake in EOG Resources, Inc. (NYSE:EOG) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,723 shares of the energy exploration company’s stock after acquiring an additional 2,212 shares during the period. HB Wealth Management LLC’s holdings in EOG Resources were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the third quarter valued at $26,000. Decker Retirement Planning Inc. bought a new stake in EOG Resources in the fourth quarter worth $27,000. Eastern Bank bought a new position in EOG Resources in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in EOG Resources during the 3rd quarter valued at about $31,000. Finally, HM Payson & Co. raised its holdings in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after buying an additional 220 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

NYSE:EOG opened at $136.70 on Tuesday. The business’s 50-day simple moving average is $128.96 and its two-hundred day simple moving average is $127.07. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The stock has a market cap of $76.89 billion, a PE ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.85%. EOG Resources’s payout ratio is currently 31.40%.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EOG. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Mizuho lowered their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Piper Sandler reduced their price objective on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Bank of America reaffirmed a “neutral” rating and set a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Finally, Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $143.48.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % 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 corporate 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.