J.P. Marvel Investment Advisors LLC Sells 401 Shares of EOG Resources, Inc. (NYSE:EOG)

J.P. Marvel Investment Advisors LLC decreased its position in EOG Resources, Inc. (NYSE:EOG) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,154 shares of the energy exploration company’s stock after selling 401 shares during the quarter. EOG Resources makes up approximately 1.4% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 20th largest holding. J.P. Marvel Investment Advisors LLC’s holdings in EOG Resources were worth $8,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EOG. Northwest Investment Counselors LLC bought a new position in EOG Resources in the 3rd quarter worth $26,000. Riverview Trust Co acquired a new stake in shares of EOG Resources in the second quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources in the second quarter worth about $28,000. Eastern Bank acquired a new position in shares of EOG Resources during the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new stake in EOG Resources during the 2nd quarter valued at approximately $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

NYSE:EOG opened at $126.46 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market cap of $71.91 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company’s 50-day moving average price is $125.15 and its two-hundred day moving average price is $126.08.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 3.08%. EOG Resources’s payout ratio is presently 28.11%.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays dropped 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. KeyCorp cut their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Piper Sandler decreased their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. UBS Group cut their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company decreased their target price on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $141.20.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

EOG Resources Company 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.