Avestar Capital LLC Purchases 711 Shares of EOG Resources, Inc. (NYSE:EOG)

Avestar Capital LLC boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 37.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,594 shares of the energy exploration company’s stock after buying an additional 711 shares during the quarter. Avestar Capital LLC’s holdings in EOG Resources were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EOG. Jacobs Levy Equity Management Inc. acquired a new position in EOG Resources during the 1st quarter worth about $312,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of EOG Resources by 32.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,763 shares of the energy exploration company’s stock valued at $1,871,000 after purchasing an additional 3,613 shares during the period. Hancock Whitney Corp acquired a new position in shares of EOG Resources in the 1st quarter valued at about $208,000. Citizens Financial Group Inc. RI acquired a new position in shares of EOG Resources in the 1st quarter valued at about $374,000. Finally, Strategic Wealth Partners Ltd. lifted its stake in shares of EOG Resources by 10.4% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 3,267 shares of the energy exploration company’s stock valued at $418,000 after purchasing an additional 307 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by company insiders.

EOG Resources Stock Performance

EOG stock opened at $133.07 on Thursday. The firm has a market cap of $74.85 billion, a PE ratio of 10.71, a P/E/G ratio of 3.51 and a beta of 1.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $128.52 and a 200-day moving average of $126.22. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources declared that its board has approved a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.93%. EOG Resources’s dividend payout ratio is presently 29.31%.

Analyst Ratings Changes

EOG has been the topic of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Susquehanna dropped their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Piper Sandler lowered EOG Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. decreased their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Fifteen investment 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. Based on data from MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus price target of $144.20.

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.