Empirical Finance LLC Raises Stake in EOG Resources, Inc. (NYSE:EOG)

Empirical Finance LLC increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,651 shares of the energy exploration company’s stock after acquiring an additional 389 shares during the quarter. Empirical Finance LLC’s holdings in EOG Resources were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of EOG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in EOG Resources by 23.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock valued at $3,209,000 after purchasing an additional 4,749 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of EOG Resources by 6.6% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,219 shares of the energy exploration company’s stock worth $412,000 after purchasing an additional 200 shares during the last quarter. 1ST Source Bank grew its position in shares of EOG Resources by 3.2% during the first quarter. 1ST Source Bank now owns 5,269 shares of the energy exploration company’s stock worth $674,000 after acquiring an additional 165 shares during the last quarter. Nicolet Advisory Services LLC increased its position in EOG Resources by 8.8% in the 1st quarter. Nicolet Advisory Services LLC now owns 4,593 shares of the energy exploration company’s stock valued at $630,000 after acquiring an additional 373 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of EOG Resources by 68.3% in the first quarter. Intech Investment Management LLC now owns 49,552 shares of the energy exploration company’s stock valued at $6,335,000 after purchasing an additional 20,105 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the subject of several research analyst reports. Piper Sandler dropped their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Barclays cut their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Morgan Stanley cut their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, KeyCorp decreased their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $142.20.

EOG Resources Stock Up 0.2 %

EOG Resources stock opened at $135.45 on Friday. 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 moving average of $125.70 and a two-hundred day moving average of $125.98. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market cap of $76.18 billion, a P/E ratio of 10.88, a P/E/G ratio of 3.56 and a beta of 1.28.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 represents a $3.90 dividend on an annualized basis and a yield of 2.88%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

EOG Resources announced that its board has initiated a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % 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.

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.