Patron Partners LLC Sells 84 Shares of EOG Resources, Inc. (NYSE:EOG)

Patron Partners LLC cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 3.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,223 shares of the energy exploration company’s stock after selling 84 shares during the quarter. Patron Partners LLC’s holdings in EOG Resources were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the third quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in EOG Resources in the second quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new stake in EOG Resources during the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP bought a new position in shares of EOG Resources during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated 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 of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Trading Down 0.8 %

EOG Resources stock opened at $133.07 on Tuesday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The firm’s 50 day moving average price is $125.28 and its 200-day moving average price is $125.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The stock has a market cap of $75.66 billion, a P/E ratio of 10.71, a PEG ratio of 3.56 and a beta of 1.28.

EOG Resources announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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 paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.93%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 29.31%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EOG shares. Truist Financial reduced their price objective on EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, September 30th. UBS Group lowered their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley cut their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Thirteen research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.20.

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.