Fifth Third Wealth Advisors LLC Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

Fifth Third Wealth Advisors LLC raised its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,574 shares of the energy exploration company’s stock after buying an additional 265 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in EOG Resources were worth $806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EOG. Charles Schwab Investment Management Inc. increased its position in EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares during the period. Ameriprise Financial Inc. grew its stake in shares of EOG Resources by 2.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after purchasing an additional 260,727 shares during the period. Franklin Resources Inc. lifted 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 purchasing an additional 2,076,134 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after buying an additional 403,676 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $137.17 on Thursday. 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 52 week low of $108.94 and a 52 week high of $139.67. The firm has a fifty day simple moving average of $128.48 and a two-hundred day simple moving average of $126.84. The stock has a market capitalization of $77.15 billion, a P/E ratio of 11.04, a PEG ratio of 3.37 and a beta of 1.29.

EOG Resources declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.84%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on EOG shares. Citigroup upped their target price on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Mizuho lowered their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Raymond James upped their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Evercore ISI lowered their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus target price of $143.48.

About EOG Resources

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.