Smart Money Group LLC Buys 346 Shares of EOG Resources, Inc. (NYSE:EOG)

Smart Money Group LLC lifted its stake in EOG Resources, Inc. (NYSE:EOG) by 7.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,827 shares of the energy exploration company’s stock after purchasing an additional 346 shares during the quarter. Smart Money Group LLC’s holdings in EOG Resources were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Ellsworth Advisors LLC boosted its position in shares of EOG Resources by 4.9% in the fourth quarter. Ellsworth Advisors LLC now owns 13,665 shares of the energy exploration company’s stock worth $1,675,000 after purchasing an additional 633 shares during the period. Grove Bank & Trust boosted its holdings in EOG Resources by 10.0% in the 4th quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock worth $114,000 after buying an additional 84 shares during the period. Brady Martz Wealth Solutions LLC purchased a new stake in EOG Resources in the 4th quarter worth $1,218,000. My Legacy Advisors LLC raised its holdings in EOG Resources by 5.7% during the fourth quarter. My Legacy Advisors LLC now owns 6,428 shares of the energy exploration company’s stock valued at $788,000 after acquiring an additional 344 shares during the period. Finally, Romano Brothers AND Company lifted its position in shares of EOG Resources by 5.1% in the fourth quarter. Romano Brothers AND Company now owns 14,450 shares of the energy exploration company’s stock valued at $1,771,000 after acquiring an additional 700 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $136.70 on Monday. The company has a market capitalization 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. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The stock’s fifty day moving average is $128.96 and its two-hundred day moving average is $127.07. 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 declared that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

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

Wall Street Analysts Forecast Growth

EOG has been the subject of several research analyst reports. Piper Sandler cut their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Evercore ISI reduced their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Mizuho dropped their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Finally, Scotiabank dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average target price of $143.48.

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.