Kimelman & Baird LLC Decreases Stake in EOG Resources, Inc. (NYSE:EOG)

Kimelman & Baird LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,095 shares of the energy exploration company’s stock after selling 325 shares during the quarter. Kimelman & Baird LLC’s holdings in EOG Resources were worth $1,241,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cape ANN Savings Bank grew its position in EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after buying an additional 79 shares during the period. Bailard Inc. grew its holdings in shares of EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after acquiring an additional 81 shares during the period. Everpar Advisors LLC increased its stake in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after purchasing an additional 83 shares in the last quarter. Altman Advisors Inc. raised its holdings in EOG Resources by 0.7% during the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after purchasing an additional 85 shares during the last quarter. Finally, X Square Capital LLC boosted its position in EOG Resources by 2.7% during the second quarter. X Square Capital LLC now owns 3,236 shares of the energy exploration company’s stock worth $407,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 1.7 %

EOG opened at $127.81 on Friday. The stock has a market capitalization of $71.89 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 3.44 and a beta of 1.29. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business has a 50-day moving average of $129.37 and a two-hundred day moving average of $126.31.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.05%. EOG Resources’s dividend payout ratio is 29.31%.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EOG has been the subject of a number of research analyst reports. Raymond James raised their price target on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. KeyCorp dropped their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Barclays dropped their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their price objective on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $144.20.

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.