PNC Financial Services Group Inc. Buys 11,425 Shares of EOG Resources, Inc. (NYSE:EOG)

PNC Financial Services Group Inc. boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,444 shares of the energy exploration company’s stock after buying an additional 11,425 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EOG Resources were worth $26,976,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EOG. Cape ANN Savings Bank lifted its holdings in shares of EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares during the period. CVA Family Office LLC boosted its position in EOG Resources by 11.0% in the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after purchasing an additional 81 shares in the last quarter. Bailard Inc. grew its stake in shares of 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 purchasing an additional 81 shares during the period. Everpar Advisors LLC increased its holdings in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after purchasing an additional 83 shares in the last quarter. Finally, Altman Advisors Inc. boosted its holdings in EOG Resources by 0.7% during the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after buying an additional 85 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $135.32 on Friday. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The business’s fifty day moving average price is $127.61 and its two-hundred day moving average price is $126.16. The stock has a market cap of $76.11 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28. 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 declared that its board has authorized a stock repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed 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 is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Morgan Stanley decreased their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $147.00 to $149.00 in a research note on Monday. Finally, Truist Financial raised their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $144.00.

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.