Corbyn Investment Management Inc. MD Sells 84 Shares of EOG Resources, Inc. (NYSE:EOG)

Corbyn Investment Management Inc. MD decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,638 shares of the energy exploration company’s stock after selling 84 shares during the period. EOG Resources comprises approximately 2.0% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 17th largest position. Corbyn Investment Management Inc. MD’s holdings in EOG Resources were worth $5,119,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EOG. Covestor Ltd boosted its holdings in EOG Resources by 8.4% in the 1st quarter. Covestor Ltd now owns 1,270 shares of the energy exploration company’s stock worth $162,000 after buying an additional 98 shares during the period. Resurgent Financial Advisors LLC boosted its holdings in EOG Resources by 10.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 2,247 shares of the energy exploration company’s stock worth $287,000 after buying an additional 218 shares during the period. Davis R M Inc. bought a new position in EOG Resources in the 1st quarter worth $201,000. O Shaughnessy Asset Management LLC boosted its holdings in EOG Resources by 5.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 89,680 shares of the energy exploration company’s stock worth $11,465,000 after buying an additional 4,566 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in EOG Resources by 228.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock worth $1,998,000 after buying an additional 10,868 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $134.56 on Monday. The company has a market capitalization of $75.68 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 3.57 and a beta of 1.28. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The firm’s 50-day moving average is $126.25 and its 200 day moving average is $125.96. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication 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. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 31.40%.

Insiders Place Their Bets

In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 9.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI decreased their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, Truist Financial upped their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $142.20.

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.