Grove Bank & Trust Increases Stake in EOG Resources, Inc. (NYSE:EOG)

Grove Bank & Trust increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 10.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 928 shares of the energy exploration company’s stock after purchasing an additional 84 shares during the period. Grove Bank & Trust’s holdings in EOG Resources were worth $114,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EOG. Sei Investments Co. boosted its position in EOG Resources by 0.4% during the second quarter. Sei Investments Co. now owns 301,099 shares of the energy exploration company’s stock valued at $37,900,000 after purchasing an additional 1,120 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in EOG Resources by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 242,948 shares of the energy exploration company’s stock valued at $30,580,000 after purchasing an additional 1,787 shares in the last quarter. ProShare Advisors LLC boosted its holdings in EOG Resources by 7.6% in the second quarter. ProShare Advisors LLC now owns 111,102 shares of the energy exploration company’s stock worth $13,984,000 after acquiring an additional 7,873 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in EOG Resources by 400.5% in the second quarter. Frank Rimerman Advisors LLC now owns 2,953 shares of the energy exploration company’s stock worth $372,000 after acquiring an additional 2,363 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in EOG Resources by 2.1% in the second quarter. EverSource Wealth Advisors LLC now owns 6,078 shares of the energy exploration company’s stock worth $771,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, 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. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

EOG has been the subject of a number of research reports. Truist Financial lifted their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Bank of America restated a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $143.48.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $136.70 on Tuesday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The business’s fifty day simple moving average is $128.96 and its 200-day simple moving average is $127.07. The firm has a market cap 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. 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 authorized a stock repurchase plan 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 purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.85%. 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 31.40%.

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.