EOG Resources, Inc. (NYSE:EOG) Shares Sold by Riverstone Advisors LLC

Riverstone Advisors LLC trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,751 shares of the energy exploration company’s stock after selling 443 shares during the period. EOG Resources makes up about 0.6% of Riverstone Advisors LLC’s portfolio, making the stock its 21st largest holding. Riverstone Advisors LLC’s holdings in EOG Resources were worth $1,073,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources in the third quarter valued at $26,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources in the fourth quarter valued at $27,000. Eastern Bank bought a new position in shares of EOG Resources in the third quarter valued at $28,000. Capital Performance Advisors LLP bought a new position in shares of EOG Resources in the third quarter valued at $31,000. Finally, HM Payson & Co. increased its holdings in shares of EOG Resources by 203.7% in the third 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. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company’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 completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Trading Down 3.2 %

Shares of NYSE:EOG opened at $125.63 on Friday. The stock has a market capitalization of $70.66 billion, a PE ratio of 10.11, a P/E/G ratio of 3.46 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 firm has a fifty day moving average price of $128.37 and a 200 day moving average price of $127.40. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the company posted $3.44 earnings per share. Analysts expect that EOG Resources, Inc. will post 11.46 EPS for the current fiscal year.

EOG Resources declared that its board has initiated a stock buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.10%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, January 17th. EOG Resources’s dividend payout ratio is 31.40%.

Analysts Set New Price Targets

Several research analysts have issued reports on EOG shares. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler boosted their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday. KeyCorp cut their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Bank of America reissued a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Finally, Citigroup boosted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Thirteen equities 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $143.90.

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.