Diversify Advisory Services LLC Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Diversify Advisory Services LLC lessened its position in EOG Resources, Inc. (NYSE:EOG) by 3.4% in the 4th quarter, Holdings Channel reports. The fund owned 4,857 shares of the energy exploration company’s stock after selling 171 shares during the period. Diversify Advisory Services LLC’s holdings in EOG Resources were worth $638,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EOG. Franklin Resources Inc. raised its position in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC increased its holdings in EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of EOG Resources in the second quarter worth $106,990,000. Assenagon Asset Management S.A. boosted its stake in shares of EOG Resources by 577.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after acquiring an additional 593,823 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on EOG shares. Mizuho reduced their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Barclays reduced their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Truist Financial raised their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup raised their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $143.48.

EOG Resources Trading Down 0.4 %

NYSE EOG opened at $136.09 on Wednesday. The firm’s 50 day moving average price is $129.04 and its two-hundred day moving average price is $127.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The stock has a market cap of $76.54 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 3.77 and a beta of 1.29.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.16. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period in the previous year, the firm earned $3.44 earnings per share. Equities analysts anticipate that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

EOG Resources announced that its board has authorized a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction 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 owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, 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 currently owned by corporate insiders.

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.