Drive Wealth Management LLC Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Drive Wealth Management LLC reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,022 shares of the energy exploration company’s stock after selling 237 shares during the quarter. Drive Wealth Management LLC’s holdings in EOG Resources were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Quest Partners LLC bought a new stake in EOG Resources in the 3rd quarter valued at $762,000. Thrivent Financial for Lutherans boosted its stake in EOG Resources by 3.3% during the third quarter. Thrivent Financial for Lutherans now owns 250,850 shares of the energy exploration company’s stock valued at $30,837,000 after buying an additional 7,902 shares during the last quarter. Claro Advisors LLC grew its holdings in EOG Resources by 21.2% during the 3rd quarter. Claro Advisors LLC now owns 7,690 shares of the energy exploration company’s stock valued at $945,000 after buying an additional 1,344 shares in the last quarter. Seizert Capital Partners LLC grew its holdings in EOG Resources by 7.9% during the 3rd quarter. Seizert Capital Partners LLC now owns 20,384 shares of the energy exploration company’s stock valued at $2,506,000 after buying an additional 1,497 shares in the last quarter. Finally, River Street Advisors LLC increased its stake in EOG Resources by 1.1% in the 3rd quarter. River Street Advisors LLC now owns 9,398 shares of the energy exploration company’s stock worth $1,155,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EOG shares. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $147.00 to $149.00 in a research note on Monday. Scotiabank reduced their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, Evercore ISI lowered their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.30.

Insider Activity

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

EOG Resources Stock Up 1.5 %

Shares of NYSE:EOG opened at $136.54 on Tuesday. The business’s 50 day moving average is $126.57 and its 200 day moving average is $125.99. The stock has a market cap of $76.80 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given 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 is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.86%. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has approved a share buyback 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 purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.