Beddow Capital Management Inc. Has $5.05 Million Position in EOG Resources, Inc. (NYSE:EOG)

Beddow Capital Management Inc. cut its stake in EOG Resources, Inc. (NYSE:EOG) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,090 shares of the energy exploration company’s stock after selling 850 shares during the period. EOG Resources makes up about 2.1% of Beddow Capital Management Inc.’s portfolio, making the stock its 21st biggest holding. Beddow Capital Management Inc.’s holdings in EOG Resources were worth $5,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources in the 3rd quarter valued at approximately $26,000. Riverview Trust Co bought a new stake in EOG Resources during the second quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the 2nd quarter valued at $28,000. Eastern Bank bought a new position in shares of EOG Resources in the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources during the 2nd quarter worth $30,000. Institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on EOG shares. Susquehanna decreased their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $147.00 to $149.00 in a research note on Monday. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Finally, Truist Financial increased their price target on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $142.30.

Insider Transactions at EOG Resources

In related news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 9.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This trade represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

EOG Resources Stock Performance

EOG stock opened at $136.54 on Tuesday. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $126.57 and a 200-day moving average price of $125.99. The firm has a market cap of $76.80 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28.

EOG Resources Increases Dividend

The firm 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 is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.86%. EOG Resources’s payout ratio is 29.31%.

EOG Resources declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.