Sax Wealth Advisors LLC Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Sax Wealth Advisors LLC bought a new stake in EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,332 shares of the energy exploration company’s stock, valued at approximately $286,000.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the 3rd quarter worth $26,000. Decker Retirement Planning Inc. acquired a new position in EOG Resources during the fourth quarter worth about $27,000. Eastern Bank purchased a new stake in EOG Resources during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources in the 3rd quarter valued at about $31,000. Finally, HM Payson & Co. lifted its stake in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Down 1.0 %

EOG opened at $136.70 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $76.89 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.29. The business has a fifty day moving average price of $128.96 and a 200 day moving average price of $127.06. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.85%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

EOG has been the subject of several recent research reports. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Scotiabank reduced their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price objective on shares of EOG Resources in a report on Monday, January 6th. Evercore ISI reduced their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, Piper Sandler cut their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $143.48.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated 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 directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. 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.