Peapack Gladstone Financial Corp Sells 323 Shares of EOG Resources, Inc. (NYSE:EOG)

Peapack Gladstone Financial Corp lessened its position in EOG Resources, Inc. (NYSE:EOG) by 3.9% during the third quarter, Holdings Channel.com reports. The fund owned 7,968 shares of the energy exploration company’s stock after selling 323 shares during the period. Peapack Gladstone Financial Corp’s holdings in EOG Resources were worth $980,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the third quarter worth about $26,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of EOG Resources during the third quarter valued at approximately $31,000. Finally, HM Payson & Co. lifted its stake in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI decreased their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Truist Financial upped their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Citigroup raised their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Fifteen investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $144.20.

EOG Resources Stock Up 0.2 %

EOG stock opened at $126.77 on Monday. The stock has a market capitalization of $71.30 billion, a P/E ratio of 10.21, a P/E/G ratio of 3.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The business has a fifty day moving average price of $129.23 and a 200-day moving average price of $126.43.

EOG Resources announced that its Board of Directors has approved a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.08%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 29.31%.

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.