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Fifth Third Bancorp Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

EOG Resources logo with Oils/Energy background

Fifth Third Bancorp lowered its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 250,505 shares of the energy exploration company's stock after selling 8,837 shares during the period. Fifth Third Bancorp's holdings in EOG Resources were worth $30,707,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EOG. Insight Inv LLC grew its holdings in shares of EOG Resources by 0.8% during the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company's stock valued at $1,154,000 after buying an additional 75 shares during the last quarter. Cape ANN Savings Bank boosted its stake in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company's stock valued at $1,067,000 after purchasing an additional 79 shares during the last quarter. Everpar Advisors LLC increased its holdings in shares of EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company's stock worth $293,000 after purchasing an additional 83 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of EOG Resources by 3.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company's stock worth $358,000 after purchasing an additional 84 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of EOG Resources by 10.0% during the fourth quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company's stock valued at $114,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

EOG traded down $2.25 during trading on Friday, hitting $131.73. 3,178,794 shares of the company traded hands, compared to its average volume of 2,694,795. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $74.09 billion, a PE ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. The stock's 50-day simple moving average is $129.01 and its two-hundred day simple moving average is $127.37. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter last year, the business posted $3.44 earnings per share. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources announced that its board has authorized a share buyback program 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 purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This is an increase 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 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources's dividend payout ratio is currently 31.40%.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company's stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company's stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. KeyCorp lowered their target price on shares of EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company upgraded shares of EOG Resources from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Truist Financial lifted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Wolfe Research raised EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Finally, Raymond James lifted their price objective on EOG Resources from $167.00 to $175.00 and gave the stock a "strong-buy" rating in a report on Thursday. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $143.86.

Check Out Our Latest Stock Report on EOG Resources

EOG Resources Profile

(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.

Further Reading

Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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