Associated Banc Corp Lowers Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

26 Nov 2024, 13:30 by Mitch Edgeman · The Markets Daily

Associated Banc Corp lowered its position in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 47,833 shares of the energy exploration company’s stock after selling 1,688 shares during the period. Associated Banc Corp’s holdings in EOG Resources were worth $5,880,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of EOG Resources during the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the second quarter worth $28,000. Eastern Bank purchased a new stake in shares of EOG Resources during the third quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EOG shares. Wells Fargo & Company boosted their price objective on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Susquehanna cut their price target 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. Morgan Stanley decreased their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $144.00.

View Our Latest Stock Report on EOG

EOG Resources Stock Down 3.2 %

Shares of NYSE:EOG opened at $131.98 on Tuesday. The company has a 50 day moving average of $128.16 and a 200-day moving average of $126.16. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The stock has a market cap of $74.23 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 3.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.95%. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources announced that its Board of Directors has initiated a share buyback plan 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 buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other news, 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 transaction of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

About EOG Resources

(Free Report)

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.