Alpha DNA Investment Management LLC Increases Stake in EOG Resources, Inc. (NYSE:EOG)

Alpha DNA Investment Management LLC grew its position in EOG Resources, Inc. (NYSE:EOG) by 3.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,185 shares of the energy exploration company’s stock after purchasing an additional 487 shares during the quarter. EOG Resources accounts for approximately 0.7% of Alpha DNA Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Alpha DNA Investment Management LLC’s holdings in EOG Resources were worth $1,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EOG. Caprock Group LLC raised its holdings in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after acquiring an additional 862 shares during the last quarter. University of Texas Texas AM Investment Management Co. increased its holdings in shares of EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after purchasing an additional 10,618 shares in the last quarter. KBC Group NV raised its stake in shares of EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after purchasing an additional 12,210 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock valued at $1,303,000 after purchasing an additional 3,251 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of EOG Resources by 13.3% during the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock valued at $6,518,000 after buying an additional 5,972 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EOG. Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Scotiabank reduced their price target on shares of 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. Barclays lowered their price objective 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. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $144.00.

Insider Activity at EOG Resources

In other EOG Resources news, 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 transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

EOG Resources Trading Up 0.6 %

Shares of EOG Resources stock opened at $136.35 on Friday. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a market capitalization of $76.69 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.59 and a beta of 1.28. The company has a fifty day moving average of $127.95 and a 200 day moving average of $126.18.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.86%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources announced that its board has initiated a share buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.