SevenBridge Financial Group LLC Acquires 901 Shares of EOG Resources, Inc. (NYSE:EOG)

SevenBridge Financial Group LLC raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,706 shares of the energy exploration company’s stock after acquiring an additional 901 shares during the quarter. SevenBridge Financial Group LLC’s holdings in EOG Resources were worth $3,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Caprock Group LLC grew its holdings in EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares during the period. University of Texas Texas AM Investment Management Co. grew its stake in shares of EOG Resources by 3,976.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after acquiring an additional 10,618 shares during the period. KBC Group NV increased its holdings in EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after acquiring an additional 12,210 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in EOG Resources by 44.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after acquiring an additional 3,251 shares during the period. Finally, Tidal Investments LLC raised its stake in EOG Resources by 13.3% during the 1st quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock worth $6,518,000 after acquiring an additional 5,972 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EOG. Wells Fargo & Company increased their price objective on shares of EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday. Scotiabank cut their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Raymond James boosted their price objective on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday. Piper Sandler cut 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 report on Monday, November 18th. Finally, Evercore ISI lowered their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Fifteen equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.00.

Insider Buying and Selling

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Janet F. Clark sold 568 shares of the business’s 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 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 position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

EOG Resources Trading Up 0.6 %

EOG opened at $136.35 on Friday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $127.95 and a 200 day moving average of $126.18. The firm has a market cap of $76.69 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.59 and a beta of 1.28.

EOG Resources Increases Dividend

The business 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 represents a $3.90 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. 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 declared that its board has approved a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.