EOG Resources, Inc. (NYSE:EOG) Shares Acquired by First Business Financial Services Inc.

First Business Financial Services Inc. lifted its holdings in EOG Resources, Inc. (NYSE:EOG) by 14.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,152 shares of the energy exploration company’s stock after purchasing an additional 1,407 shares during the quarter. First Business Financial Services Inc.’s holdings in EOG Resources were worth $1,371,000 as of its most recent SEC filing.

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

EOG Resources Stock Up 0.6 %

Shares of NYSE EOG opened at $135.19 on Friday. The stock has a market cap of $76.04 billion, a PE ratio of 10.88, a P/E/G ratio of 3.56 and a beta of 1.28. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a 50-day moving average of $125.70 and a 200 day moving average of $125.98.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.975 dividend. 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. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.88%. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on EOG. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday. Truist Financial raised their target price on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Finally, Wells Fargo & Company lowered their target price on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $142.20.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated 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 owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Company 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.