Sumitomo Life Insurance Co. Sells 436 Shares of EOG Resources, Inc. (NYSE:EOG)

Sumitomo Life Insurance Co. cut its stake in EOG Resources, Inc. (NYSE:EOG) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,348 shares of the energy exploration company’s stock after selling 436 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in EOG Resources were worth $2,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources in the 4th quarter worth approximately $27,000. Eastern Bank purchased a new position in shares of EOG Resources in the 3rd quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of EOG Resources during the third quarter valued at approximately $31,000. Finally, HM Payson & Co. grew its stake in EOG Resources by 203.7% in 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 during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Down 1.2 %

Shares of NYSE:EOG opened at $130.38 on Wednesday. The stock’s 50-day simple moving average is $128.91 and its two-hundred day simple moving average is $127.40. The stock has a market capitalization of $73.33 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the firm posted $3.44 earnings per share. Analysts expect that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources declared that its board has authorized a stock 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 buy 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 stock is undervalued.

EOG Resources Increases Dividend

The business 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 $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 directly owns 42,703 shares of the company’s stock, 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. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EOG has been the topic of a number of research reports. Bank of America restated a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Piper Sandler dropped their price objective on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Mizuho decreased their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.86.

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.