EOG Resources, Inc. (NYSE:EOG) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,241 shares of the energy exploration company’s stock after selling 101 shares during the period. Institute for Wealth Management LLC.’s holdings in EOG Resources were worth $1,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources in the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. purchased a new stake in EOG Resources in the 4th quarter worth approximately $27,000. Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in EOG Resources during the third quarter worth about $31,000. Finally, HM Payson & Co. lifted its holdings in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

EOG Resources Price Performance

EOG stock opened at $129.75 on Friday. The company has a market capitalization of $72.98 billion, a PE ratio of 10.45, a P/E/G ratio of 3.46 and a beta of 1.29. The stock’s 50 day moving average is $128.70 and its two-hundred day moving average is $127.43. 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.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.16. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter in the prior year, the firm posted $3.44 earnings per share. Analysts predict that EOG Resources, Inc. will post 11.46 earnings per share for the current fiscal year.

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

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

EOG has been the subject of several research analyst reports. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Bank of America reaffirmed a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Citigroup boosted their target price on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Piper Sandler boosted their price objective on shares of EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $143.90.

About EOG Resources

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.