OLD National Bancorp IN Trims Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

OLD National Bancorp IN trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,519 shares of the energy exploration company’s stock after selling 2,632 shares during the quarter. OLD National Bancorp IN’s holdings in EOG Resources were worth $8,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in EOG Resources in the third quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new position in EOG Resources in the fourth quarter worth approximately $27,000. Eastern Bank bought a new position in EOG Resources in the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in EOG Resources in the third quarter worth approximately $31,000. Finally, HM Payson & Co. grew its stake in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG stock opened at $130.23 on Thursday. The business has a fifty day moving average of $128.82 and a 200 day moving average of $127.41. The firm has a market capitalization of $73.25 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter last year, the business posted $3.44 EPS. As a group, research analysts expect that EOG Resources, Inc. will post 11.45 earnings per share for the current year.

EOG Resources announced that its board has approved a share buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % 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 Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

EOG has been the topic of several research analyst reports. Barclays dropped their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Scotiabank dropped their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Citigroup increased their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a research report on Monday, January 6th. Finally, Piper Sandler increased their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday. Thirteen research 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’s stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average target price of $143.90.

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.