EOG Resources, Inc. (NYSE:EOG) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 105.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,356 shares of the energy exploration company’s stock after acquiring an additional 49,899 shares during the period. Synovus Financial Corp’s holdings in EOG Resources were worth $11,968,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EOG. Tidal Investments LLC raised its holdings in shares of EOG Resources by 4.7% during the 3rd quarter. Tidal Investments LLC now owns 58,790 shares of the energy exploration company’s stock worth $7,227,000 after acquiring an additional 2,634 shares during the period. Wilmington Savings Fund Society FSB raised its stake in EOG Resources by 26.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 71,766 shares of the energy exploration company’s stock worth $8,822,000 after purchasing an additional 15,186 shares during the period. World Investment Advisors LLC acquired a new position in EOG Resources in the 3rd quarter valued at about $730,000. Sanctuary Advisors LLC grew its stake in shares of EOG Resources by 6.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 120,111 shares of the energy exploration company’s stock valued at $16,377,000 after buying an additional 7,508 shares during the period. Finally, Chelsea Counsel Co. lifted its holdings in EOG Resources by 2.0% in the third quarter. Chelsea Counsel Co. now owns 5,215 shares of the energy exploration company’s stock valued at $641,000 after acquiring an additional 100 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Down 0.8 %

EOG opened at $126.60 on Friday. The business has a 50 day moving average price of $129.36 and a two-hundred day moving average price of $126.37. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a market cap of $71.21 billion, a PE ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

EOG Resources announced that its Board of Directors has initiated a stock repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler lowered EOG Resources from an “overweight” rating to a “neutral” rating and upped their price target for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Truist Financial boosted their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. KeyCorp dropped their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $144.20.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred 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 completion of the sale, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

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.