FSA Wealth Management LLC Takes Position in EOG Resources, Inc. (NYSE:EOG)

FSA Wealth Management LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 483 shares of the energy exploration company’s stock, valued at approximately $59,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after purchasing an additional 75,194 shares during the period. Ameriprise Financial Inc. boosted its stake in EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after buying an additional 260,727 shares in the last quarter. Legal & General Group Plc raised its stake in shares of EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after buying an additional 403,676 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of EOG Resources by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock worth $563,070,000 after acquiring an additional 258,732 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of EOG Resources by 3.2% during the 3rd quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company’s stock valued at $523,024,000 after acquiring an additional 130,822 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Up 0.1 %

NYSE EOG opened at $133.26 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The stock has a market capitalization of $74.95 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 3.54 and a beta of 1.28. The stock has a fifty day moving average of $128.82 and a 200-day moving average of $126.26.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently disclosed 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 yield of 2.93%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research report on Monday, October 14th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $147.00 to $149.00 in a report on Monday, November 18th. UBS Group decreased their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Barclays lowered their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Susquehanna cut their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average target price of $144.20.

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.