Greenwood Capital Associates LLC Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Greenwood Capital Associates LLC decreased its stake in EOG Resources, Inc. (NYSE:EOG) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,430 shares of the energy exploration company’s stock after selling 811 shares during the quarter. Greenwood Capital Associates LLC’s holdings in EOG Resources were worth $6,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of EOG Resources in the fourth quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources during the 3rd quarter valued at about $26,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources during the fourth quarter worth about $27,000. Eastern Bank acquired a new position in EOG Resources in the 3rd quarter valued at about $28,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources during the 3rd quarter worth approximately $31,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

EOG has been the subject of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. Scotiabank lowered their target price 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. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Finally, Piper Sandler increased their price target on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $143.90.

EOG Resources Stock Performance

Shares of EOG stock opened at $126.27 on Tuesday. The stock’s 50-day moving average is $128.37 and its two-hundred day moving average is $127.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $71.02 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 3.33 and a beta of 1.27. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the company posted $3.44 earnings per share. Analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current year.

EOG Resources announced that its board has initiated a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $0.975 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 3.09%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 31.40%.

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.