EOG Resources, Inc. (NYSE:EOG) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 277,538 shares of the energy exploration company’s stock after buying an additional 7,419 shares during the period. EOG Resources comprises about 0.5% of Empowered Funds LLC’s portfolio, making the stock its 19th largest holding. Empowered Funds LLC’s holdings in EOG Resources were worth $34,118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the third quarter valued at $26,000. Riverview Trust Co acquired a new position in EOG Resources in the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources during the second quarter worth approximately $28,000. Eastern Bank acquired a new stake in EOG Resources in the third quarter valued at approximately $28,000. Finally, Gladius Capital Management LP acquired a new stake in EOG Resources in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EOG shares. JPMorgan Chase & Co. decreased their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Susquehanna cut their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday. Piper Sandler cut 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. Finally, Wolfe Research initiated coverage on EOG Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $142.20.

EOG Resources Trading Up 0.2 %

NYSE EOG opened at $135.45 on Friday. The firm has a 50 day simple moving average of $125.70 and a 200-day simple moving average of $125.98. The firm has a market cap of $76.18 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.88%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s payout ratio is presently 29.31%.

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

Insider Activity at EOG Resources

In other EOG Resources news, 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 sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the business’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 value of $816,400.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.