Taurus Asset Management LLC Has $9.74 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Taurus Asset Management LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 41.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,205 shares of the energy exploration company’s stock after selling 56,050 shares during the quarter. Taurus Asset Management LLC’s holdings in EOG Resources were worth $9,737,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EOG. Covestor Ltd boosted its stake in EOG Resources by 8.4% during the first quarter. Covestor Ltd now owns 1,270 shares of the energy exploration company’s stock worth $162,000 after acquiring an additional 98 shares in the last quarter. Resurgent Financial Advisors LLC grew its stake in shares of EOG Resources by 10.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 2,247 shares of the energy exploration company’s stock valued at $287,000 after buying an additional 218 shares during the period. Davis R M Inc. bought a new stake in EOG Resources in the 1st quarter valued at about $201,000. O Shaughnessy Asset Management LLC raised its stake in EOG Resources by 5.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 89,680 shares of the energy exploration company’s stock worth $11,465,000 after buying an additional 4,566 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in 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 acquiring an additional 10,868 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction 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 $9,615,375. This represents a 12.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s 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 transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Stock Down 0.5 %

EOG opened at $134.56 on Monday. The stock has a market capitalization of $75.68 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 3.57 and a beta of 1.28. The firm has a 50 day moving average price of $126.25 and a 200-day moving average price of $125.96. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. 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 declared that its board has authorized a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, January 17th. 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%. EOG Resources’s payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOG. Piper Sandler cut their target price on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Evercore ISI lowered their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company cut their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Finally, KeyCorp lowered their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average price target of $142.20.

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.