Segment Wealth Management LLC Acquires 586 Shares of EOG Resources, Inc. (NYSE:EOG)

Segment Wealth Management LLC raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 117,460 shares of the energy exploration company’s stock after acquiring an additional 586 shares during the period. Segment Wealth Management LLC’s holdings in EOG Resources were worth $14,398,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EOG. Northwest Investment Counselors LLC bought a new position in EOG Resources during the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. purchased a new stake in EOG Resources during the 4th quarter valued at $27,000. Eastern Bank bought a new position in shares of EOG Resources during the 3rd quarter valued at $28,000. Capital Performance Advisors LLP purchased a new position in shares of EOG Resources in the 3rd quarter worth $31,000. Finally, HM Payson & Co. grew 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 worth $40,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 1.0 %

Shares of EOG opened at $136.70 on Tuesday. The firm has a market cap of $76.89 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a 50 day simple moving average of $128.96 and a two-hundred day simple moving average of $127.07.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is currently 31.40%.

EOG Resources announced that its board has authorized a share repurchase program 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. KeyCorp lowered their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Scotiabank dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Piper Sandler decreased their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, 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. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average price target of $143.48.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s 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 directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business’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 $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

EOG Resources Company 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.