Welch & Forbes LLC Sells 2,125 Shares of EOG Resources, Inc. (NYSE:EOG)

Welch & Forbes LLC lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 16.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,792 shares of the energy exploration company’s stock after selling 2,125 shares during the quarter. Welch & Forbes LLC’s holdings in EOG Resources were worth $866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. FORA Capital LLC bought a new stake in EOG Resources in the 2nd quarter worth approximately $26,000. First National Bank of South Miami bought a new stake in EOG Resources in the 3rd quarter worth approximately $26,000. Webster Bank N. A. lifted its position in EOG Resources by 268.0% in the 3rd quarter. Webster Bank N. A. now owns 357 shares of the energy exploration company’s stock worth $29,000 after buying an additional 260 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in EOG Resources in the 2nd quarter worth approximately $33,000. Finally, Sierra Capital LLC bought a new stake in EOG Resources in the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 86.47% of the company’s stock.

In other EOG Resources news, EVP Michael P. Donaldson sold 12,947 shares of the company’s stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $95.13, for a total value of $1,231,648.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Lloyd W. Helms, Jr. sold 1,470 shares of the stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $95.55, for a total value of $140,458.50. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

A number of equities analysts have commented on the company. Piper Sandler lifted their price target on EOG Resources from $110.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, October 21st. Tudor Pickering raised EOG Resources from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, September 13th. Truist lifted their price target on EOG Resources from $79.00 to $100.00 and gave the stock a “hold” rating in a research note on Thursday, October 7th. Bank of America raised EOG Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $110.00 in a research note on Friday, November 5th. Finally, US Capital Advisors raised EOG Resources from a “hold” rating to an “overweight” rating in a research note on Friday, November 12th. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $101.35.

EOG Resources stock opened at $93.05 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $88.13 and its two-hundred day simple moving average is $80.74. EOG Resources, Inc. has a 12 month low of $46.31 and a 12 month high of $98.20. The company has a market capitalization of $54.44 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 0.48 and a beta of 2.03.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 4th. The energy exploration company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.12. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.35 billion. EOG Resources had a return on equity of 17.36% and a net margin of 19.38%. The company’s quarterly revenue was up 112.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. On average, equities research analysts predict that EOG Resources, Inc. will post 8.63 EPS for the current year.

EOG Resources declared that its Board of Directors has approved a share repurchase plan on Thursday, November 4th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 28th. Stockholders of record on Friday, January 14th will be issued a dividend of $0.75 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.41. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, January 13th. EOG Resources’s dividend payout ratio is presently 31.91%.

EOG Resources Company Profile

EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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