Avestar Capital LLC Has $319,000 Stake in EOG Resources, Inc. (NYSE:EOG)

Avestar Capital LLC grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 37.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,594 shares of the energy exploration company’s stock after acquiring an additional 711 shares during the quarter. Avestar Capital LLC’s holdings in EOG Resources were worth $319,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Brooklyn Investment Group increased its holdings in shares of EOG Resources by 11.8% in the third quarter. Brooklyn Investment Group now owns 3,283 shares of the energy exploration company’s stock worth $404,000 after acquiring an additional 347 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of EOG Resources in the third quarter worth about $1,443,000. D.A. Davidson & CO. grew its holdings in shares of EOG Resources by 3.2% during the third quarter. D.A. Davidson & CO. now owns 202,850 shares of the energy exploration company’s stock worth $24,936,000 after buying an additional 6,216 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its holdings in shares of EOG Resources by 0.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 45,725 shares of the energy exploration company’s stock worth $5,621,000 after buying an additional 279 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of EOG Resources by 61.4% during the third quarter. The Manufacturers Life Insurance Company now owns 812,432 shares of the energy exploration company’s stock worth $99,872,000 after buying an additional 309,096 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group decreased their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company increased their price target on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Scotiabank reduced their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and increased their price target for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned 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 an average rating of “Hold” and a consensus target price of $144.20.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock opened at $133.07 on Thursday. The stock’s fifty day moving average price is $128.52 and its two-hundred day moving average price is $126.22. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm has a market cap of $74.85 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28.

EOG Resources Increases Dividend

The business 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 represents a $3.90 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

EOG Resources 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.