Corbyn Investment Management Inc. MD Sells 84 Shares of EOG Resources, Inc. (NYSE:EOG)

Corbyn Investment Management Inc. MD cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,638 shares of the energy exploration company’s stock after selling 84 shares during the quarter. EOG Resources makes up approximately 2.0% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 17th largest holding. Corbyn Investment Management Inc. MD’s holdings in EOG Resources were worth $5,119,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UniSuper Management Pty Ltd grew its stake in shares of EOG Resources by 228.4% in the first quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock worth $1,998,000 after purchasing an additional 10,868 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its stake in shares of EOG Resources by 3,976.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after purchasing an additional 10,618 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of EOG Resources by 44.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after purchasing an additional 3,251 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of EOG Resources by 67.3% in the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock worth $107,856,000 after purchasing an additional 339,480 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of EOG Resources by 13.3% in the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock worth $6,518,000 after purchasing an additional 5,972 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

Shares of NYSE EOG opened at $134.56 on Monday. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market cap of $75.68 billion, a P/E ratio of 10.83, a PEG ratio of 3.57 and a beta of 1.28. The company has a 50 day moving average of $126.25 and a 200 day moving average of $125.96. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources announced that its board has approved a share repurchase program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s payout ratio is presently 31.40%.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on 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 sale, the executive vice president now 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EOG. JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a report on Monday, October 14th. Susquehanna lowered their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Truist Financial raised their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lowered their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $142.20.

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.