Meridian Wealth Management LLC Buys 1,967 Shares of EOG Resources, Inc. (NYSE:EOG)

Meridian Wealth Management LLC lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,890 shares of the energy exploration company’s stock after purchasing an additional 1,967 shares during the quarter. Meridian Wealth Management LLC’s holdings in EOG Resources were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cape ANN Savings Bank grew its holdings in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after acquiring an additional 79 shares during the last quarter. CVA Family Office LLC grew its holdings in EOG Resources by 11.0% during the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after acquiring an additional 81 shares during the last quarter. Bailard Inc. grew its holdings in EOG Resources by 0.4% during the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after acquiring an additional 81 shares during the last quarter. Everpar Advisors LLC grew its holdings in EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after acquiring an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. grew its holdings in EOG Resources by 0.7% during 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 during the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s 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 in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

EOG Resources Stock Up 0.6 %

EOG Resources stock opened at $136.35 on Friday. The company has a market capitalization of $76.69 billion, a PE ratio of 10.98, a PEG ratio of 3.59 and a beta of 1.28. The firm’s fifty day moving average is $127.95 and its 200 day moving average is $126.20. 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.

EOG Resources announced that its board has initiated a stock 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors 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 paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 29.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. KeyCorp reduced their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Susquehanna reduced their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Truist Financial boosted their price target 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 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. According to MarketBeat, EOG Resources has an average rating of “Hold” and an average target price of $144.00.

EOG Resources Company Profile

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.