Claro Advisors LLC Sells 1,375 Shares of EOG Resources, Inc. (NYSE:EOG)

Claro Advisors LLC trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,315 shares of the energy exploration company’s stock after selling 1,375 shares during the quarter. Claro Advisors LLC’s holdings in EOG Resources were worth $774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of EOG. Franklin Resources Inc. increased its stake in shares of EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC increased its stake in 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 valued at $147,621,000 after purchasing an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in EOG Resources during the 2nd quarter valued at about $106,990,000. Legal & General Group Plc increased its stake in 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 valued at $609,300,000 after purchasing an additional 403,676 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in 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 valued at $136,874,000 after purchasing an additional 333,947 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Scotiabank reduced their price objective 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. Bank of America reiterated a “neutral” rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a research note on Monday. Truist Financial lifted their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Monday. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.48.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $134.51 on Tuesday. 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 company has a market capitalization of $75.66 billion, a P/E ratio of 10.83, a P/E/G ratio of 3.37 and a beta of 1.29. The firm’s 50 day simple moving average is $128.21 and its two-hundred day simple moving average is $126.77.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued 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 2.90%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 31.40%.

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

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. 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.