AMG National Trust Bank Sells 721 Shares of EOG Resources, Inc. (NYSE:EOG)

AMG National Trust Bank trimmed its stake in EOG Resources, Inc. (NYSE:EOG) by 4.9% during the third quarter, HoldingsChannel.com reports. The fund owned 14,131 shares of the energy exploration company’s stock after selling 721 shares during the quarter. AMG National Trust Bank’s holdings in EOG Resources were worth $1,737,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EOG. Cape ANN Savings Bank grew its holdings in shares of EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after purchasing an additional 79 shares during the last quarter. CVA Family Office LLC grew its stake in EOG Resources by 11.0% during the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after buying an additional 81 shares during the last quarter. Bailard Inc. increased its holdings in shares of EOG Resources by 0.4% during the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after buying an additional 81 shares in the last quarter. Everpar Advisors LLC raised its stake in shares of EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. boosted its holdings in shares of EOG Resources by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after acquiring an additional 85 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction 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 directly owns 60,892 shares in the company, valued at $7,648,035.20. This represents a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

EOG Resources Price Performance

Shares of EOG stock opened at $136.54 on Tuesday. 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 12-month low of $108.94 and a 12-month high of $139.67. The firm has a fifty day moving average of $126.57 and a 200-day moving average of $125.99. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28.

EOG Resources announced that its board has approved a stock buyback plan 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 buy up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared 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 is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 31.40%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EOG shares. Truist Financial raised their price target on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Susquehanna lowered their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $147.00 to $149.00 in a research report on Monday. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Finally, StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $142.30.

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.