Shorepath Capital Management LLC Decreases Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Shorepath Capital Management LLC lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 51,818 shares of the energy exploration company’s stock after selling 3,625 shares during the period. EOG Resources makes up approximately 4.5% of Shorepath Capital Management LLC’s holdings, making the stock its 11th largest holding. Shorepath Capital Management LLC’s holdings in EOG Resources were worth $6,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in shares of EOG Resources by 631.2% during the second quarter. Federated Hermes Inc. now owns 94,590 shares of the energy exploration company’s stock worth $11,906,000 after purchasing an additional 81,654 shares during the period. Parallel Advisors LLC lifted its stake in shares of EOG Resources by 3.3% in the 2nd quarter. Parallel Advisors LLC now owns 5,888 shares of the energy exploration company’s stock valued at $741,000 after purchasing an additional 186 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of EOG Resources by 185.4% in the second quarter. Plato Investment Management Ltd now owns 1,627 shares of the energy exploration company’s stock valued at $205,000 after buying an additional 1,057 shares in the last quarter. Rathbones Group PLC raised its stake in shares of EOG Resources by 4.1% in the second quarter. Rathbones Group PLC now owns 30,234 shares of the energy exploration company’s stock valued at $3,806,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Waycross Partners LLC increased its holdings in shares of EOG Resources by 13.1% in the 2nd quarter. Waycross Partners LLC now owns 84,965 shares of the energy exploration company’s stock valued at $10,695,000 after acquiring an additional 9,847 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Up 2.4 %

NYSE:EOG opened at $134.51 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $75.66 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The firm’s 50 day moving average is $128.21 and its 200 day moving average is $126.77.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. 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 yield of 2.90%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 31.40%.

EOG Resources declared that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

EOG has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Barclays lowered their target price on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. KeyCorp cut their price objective 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. Truist Financial raised their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Bank of America reissued a “neutral” rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a research note on Monday. Thirteen research 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 stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average target price of $143.48.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following 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 filing with the SEC, which is accessible through this link. Also, Director Janet F. Clark sold 568 shares of the business’s 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 sale, the director now owns 43,532 shares of the company’s stock, 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 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.