Commerce Bank Purchases 1,515 Shares of EOG Resources, Inc. (NYSE:EOG)

Commerce Bank lifted its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.7% in the third quarter, HoldingsChannel reports. The firm owned 92,768 shares of the energy exploration company’s stock after purchasing an additional 1,515 shares during the quarter. Commerce Bank’s holdings in EOG Resources were worth $11,404,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EOG. Lake Street Advisors Group LLC grew its position in EOG Resources by 66.9% in the first quarter. Lake Street Advisors Group LLC now owns 2,896 shares of the energy exploration company’s stock worth $370,000 after acquiring an additional 1,161 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of EOG Resources by 12.0% in the 1st quarter. Pitcairn Co. now owns 4,903 shares of the energy exploration company’s stock worth $627,000 after purchasing an additional 526 shares during the period. Crewe Advisors LLC bought a new position in shares of EOG Resources during the 1st quarter valued at approximately $40,000. CreativeOne Wealth LLC raised its holdings in EOG Resources by 142.0% during the 1st quarter. CreativeOne Wealth LLC now owns 11,297 shares of the energy exploration company’s stock valued at $1,444,000 after buying an additional 6,628 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in EOG Resources by 19.5% in the first quarter. Axxcess Wealth Management LLC now owns 18,132 shares of the energy exploration company’s stock worth $2,318,000 after buying an additional 2,960 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Susquehanna dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. KeyCorp cut their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Truist Financial boosted their price objective on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Piper Sandler lowered EOG Resources from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $147.00 to $149.00 in a research note on Monday. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $142.30.

EOG Resources Price Performance

Shares of NYSE EOG opened at $136.23 on Thursday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm has a market cap of $76.62 billion, a P/E ratio of 10.97, a P/E/G ratio of 3.57 and a beta of 1.28. The business’s 50 day moving average price is $127.27 and its 200 day moving average price is $126.10.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 29.31%.

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

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently 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.