Ellsworth Advisors LLC Increases Holdings in EOG Resources, Inc. (NYSE:EOG)

Ellsworth Advisors LLC boosted its position in EOG Resources, Inc. (NYSE:EOG) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,665 shares of the energy exploration company’s stock after buying an additional 633 shares during the quarter. Ellsworth Advisors LLC’s holdings in EOG Resources were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. purchased a new stake in EOG Resources during the fourth quarter valued at about $27,000. Eastern Bank bought a new position in shares of EOG Resources during the third quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in shares of EOG Resources in the third quarter worth about $31,000. Finally, HM Payson & Co. lifted its stake 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 acquiring an additional 220 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were 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 of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the topic of several recent research reports. KeyCorp reduced their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citigroup lifted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $143.48.

EOG Resources Price Performance

Shares of EOG opened at $136.70 on Monday. The firm’s 50-day simple moving average is $128.96 and its two-hundred day simple moving average is $127.07. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The stock has a market cap of $76.89 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.85%. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

About EOG Resources

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.