Claro Advisors LLC Purchases 1,344 Shares of EOG Resources, Inc. (NYSE:EOG)

Claro Advisors LLC raised its position in EOG Resources, Inc. (NYSE:EOG) by 21.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,690 shares of the energy exploration company’s stock after acquiring an additional 1,344 shares during the period. Claro Advisors LLC’s holdings in EOG Resources were worth $945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EOG. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources in the third quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources in the second quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources in the second quarter valued at $28,000. Eastern Bank purchased a new position in shares of EOG Resources in the third quarter valued at $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources in the second quarter valued at $30,000. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The trade was a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $134.56 on Monday. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The stock’s fifty day moving average is $126.25 and its 200 day moving average is $125.96. The stock has a market cap of $75.68 billion, a P/E ratio of 10.83, a P/E/G ratio of 3.57 and a beta of 1.28. 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 announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board 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. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

Analyst Upgrades and Downgrades

EOG has been the subject of several recent analyst reports. Susquehanna reduced their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. UBS Group reduced their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Piper Sandler dropped their price target on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. KeyCorp dropped their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $142.20.

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.