Smith Salley Wealth Management Reduces Position in EOG Resources, Inc. (NYSE:EOG)

Smith Salley Wealth Management lowered its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,563 shares of the energy exploration company’s stock after selling 181 shares during the period. Smith Salley Wealth Management’s holdings in EOG Resources were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EOG. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the 3rd quarter worth $26,000. Decker Retirement Planning Inc. acquired a new position in EOG Resources in the fourth quarter worth about $27,000. Eastern Bank acquired a new position in EOG Resources in the third quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources in the third quarter valued at about $31,000. Finally, HM Payson & Co. raised its stake in EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of EOG Resources 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 transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

EOG Resources Stock Down 1.0 %

EOG opened at $136.70 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $128.96 and its 200 day simple moving average is $127.07. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The stock has a market cap of $76.89 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29.

EOG Resources declared that its board has approved a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.85%. 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 is currently 29.31%.

Analyst Ratings Changes

EOG has been the topic of several research reports. Piper Sandler dropped their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Scotiabank reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, KeyCorp lowered their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Thirteen equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.48.

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.