EOG Resources, Inc. (NYSE:EOG) COO Sells $483,560.00 in Stock

EOG Resources, Inc. (NYSE:EOG) COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

EOG Resources Trading Up 1.5 %

Shares of EOG opened at $126.57 on Monday. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The stock has a market cap of $71.19 billion, a PE ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $127.25 and its 200-day moving average price is $126.54.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources declared that its board has approved a share repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on EOG. Barclays lowered their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group reduced their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Piper Sandler decreased their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, Evercore ISI cut 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. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.48.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EOG. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the third quarter valued at $26,000. Eastern Bank purchased a new stake in shares of EOG Resources in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in shares of EOG Resources during the 3rd quarter valued at about $31,000. HM Payson & Co. grew its holdings in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new position in shares of EOG Resources in the third quarter worth approximately $43,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Company 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.