Cox Capital Mgt LLC Reduces Stock Position in EOG Resources, Inc. (NYSE:EOG)

Cox Capital Mgt LLC trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,778 shares of the energy exploration company’s stock after selling 164 shares during the period. EOG Resources accounts for about 1.7% of Cox Capital Mgt LLC’s holdings, making the stock its 23rd largest holding. Cox Capital Mgt LLC’s holdings in EOG Resources were worth $2,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in EOG Resources during the third quarter worth approximately $26,000. Eastern Bank acquired a new stake in EOG Resources during the third quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources during the 3rd quarter worth approximately $31,000. HM Payson & Co. boosted its holdings in shares of EOG Resources by 203.7% in the 3rd 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 purchased a new position in shares of EOG Resources in the 3rd quarter valued at $43,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Up 1.1 %

EOG opened at $135.91 on Wednesday. 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, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a market capitalization of $76.44 billion, a P/E ratio of 10.94, a P/E/G ratio of 3.37 and a beta of 1.29. The business has a 50 day simple moving average of $128.48 and a 200-day simple moving average of $126.84.

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 issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.87%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price target 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. Piper Sandler reduced their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Raymond James raised their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Scotiabank lowered their target price on shares of 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. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus price target of $143.48.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated 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. 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 available at this link. Also, 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 transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.