EOG Resources, Inc. (NYSE:EOG) COO Sells $483,560.00 in Stock

EOG Resources, Inc. (NYSE:EOG) COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was 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 $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

EOG Resources Stock Performance

Shares of EOG Resources stock traded up $1.50 during trading on Friday, hitting $126.21. 900,783 shares of the company’s stock were exchanged, compared to its average volume of 1,880,893. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 3.39 and a beta of 1.29. The business has a 50-day simple moving average of $127.18 and a 200-day simple moving average of $126.39.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.09%. 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. EOG Resources’s payout ratio is 31.40%.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter worth approximately $26,000. Eastern Bank purchased a new stake in EOG Resources during the third quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources during the third quarter valued at $31,000. HM Payson & Co. increased 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 valued at $40,000 after buying an additional 220 shares in the last quarter. Finally, Matrix Trust Co acquired a new position in shares of EOG Resources in the third quarter worth about $43,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on EOG. Truist Financial raised their price objective on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. Evercore ISI cut their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Piper Sandler reduced their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, Mizuho cut their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.48.

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.