StrongBox Wealth LLC Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

StrongBox Wealth LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 24.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,613 shares of the energy exploration company’s stock after selling 1,495 shares during the period. StrongBox Wealth LLC’s holdings in EOG Resources were worth $565,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EOG. Citizens Financial Group Inc. RI increased its stake in shares of EOG Resources by 9.5% during the second quarter. Citizens Financial Group Inc. RI now owns 3,204 shares of the energy exploration company’s stock valued at $403,000 after buying an additional 278 shares during the period. Axxcess Wealth Management LLC increased its stake in shares of EOG Resources by 0.6% during the second quarter. Axxcess Wealth Management LLC now owns 18,237 shares of the energy exploration company’s stock valued at $2,295,000 after buying an additional 105 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of EOG Resources by 6.9% during the second quarter. Mutual of America Capital Management LLC now owns 81,759 shares of the energy exploration company’s stock valued at $10,291,000 after buying an additional 5,303 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of EOG Resources by 0.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,088,336 shares of the energy exploration company’s stock valued at $136,977,000 after buying an additional 4,382 shares during the period. Finally, Meiji Yasuda Life Insurance Co increased its stake in shares of EOG Resources by 12.8% during the second quarter. Meiji Yasuda Life Insurance Co now owns 25,828 shares of the energy exploration company’s stock valued at $3,251,000 after buying an additional 2,927 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EOG. Citigroup lifted 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. UBS Group cut their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Piper Sandler cut their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Raymond James lifted their target price on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a research note on Monday, January 6th. Thirteen investment 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’s stock. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and an average target price of $143.48.

EOG Resources Trading Up 1.0 %

EOG Resources stock 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 company has a market capitalization of $77.15 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29. The stock has a 50-day moving average price of $128.48 and a 200 day moving average price of $126.84.

EOG Resources declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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 is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.84%. EOG Resources’s payout ratio is 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.