Horizon Kinetics Asset Management LLC Buys 4,300 Shares of EOG Resources, Inc. (NYSE:EOG)

Horizon Kinetics Asset Management LLC grew its stake in EOG Resources, Inc. (NYSE:EOG) by 74.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,068 shares of the energy exploration company’s stock after purchasing an additional 4,300 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in EOG Resources were worth $1,238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the third quarter worth about $26,000. Riverview Trust Co bought a new stake in EOG Resources in the second quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources in the second quarter worth about $28,000. Eastern Bank bought a new position in EOG Resources during the third quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new stake in EOG Resources during the second quarter valued at approximately $30,000. Institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of several analyst reports. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. UBS Group decreased their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Susquehanna dropped their target price on shares of 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 cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and increased their price target for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Finally, Truist Financial boosted their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $144.00.

EOG Resources Trading Down 3.2 %

NYSE:EOG opened at $131.98 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The firm has a market capitalization of $74.23 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 3.62 and a beta of 1.28. The business’s 50-day moving average price is $128.16 and its two-hundred day moving average price is $126.16.

EOG Resources Increases Dividend

The company 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 $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were 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 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 Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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.