Morton Community Bank Has $3.12 Million Position in EOG Resources, Inc. (NYSE:EOG)

Morton Community Bank cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 25,370 shares of the energy exploration company’s stock after selling 105 shares during the quarter. Morton Community Bank’s holdings in EOG Resources were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in EOG. Fisher Asset Management LLC increased its holdings in shares of EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $106,990,000. Legal & General Group Plc increased its holdings in shares of EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of EOG Resources by 237.9% during the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock worth $61,741,000 after acquiring an additional 343,527 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after acquiring an additional 333,947 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of EOG stock opened at $133.26 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a market cap of $74.95 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.54 and a beta of 1.28. The business has a fifty day simple moving average of $128.82 and a 200 day simple moving average of $126.28.

EOG Resources Increases Dividend

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

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 shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on EOG shares. Piper Sandler lowered EOG Resources from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $147.00 to $149.00 in a report on Monday, November 18th. Wells Fargo & Company upped their price objective on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a report on Monday, October 14th. Finally, Truist Financial upped their price objective on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $144.20.

Insider Buying and Selling 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 stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade 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 can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.