Bank of Nova Scotia Sells 67,393 Shares of EOG Resources, Inc. (NYSE:EOG)

Bank of Nova Scotia cut its stake in shares of EOG Resources, Inc. (NYSE:EOGGet Rating) by 59.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 46,904 shares of the energy exploration company’s stock after selling 67,393 shares during the period. Bank of Nova Scotia’s holdings in EOG Resources were worth $5,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EOG. Lumature Wealth Partners LLC bought a new stake in EOG Resources during the 1st quarter worth approximately $28,000. BDO Wealth Advisors LLC grew its holdings in EOG Resources by 476.2% during the 1st quarter. BDO Wealth Advisors LLC now owns 242 shares of the energy exploration company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Miller Wealth Advisors LLC grew its holdings in EOG Resources by 126.1% during the 2nd quarter. Miller Wealth Advisors LLC now owns 269 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. HM Payson & Co. bought a new stake in EOG Resources during the 1st quarter worth approximately $33,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in EOG Resources by 1,436.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 292 shares of the energy exploration company’s stock worth $34,000 after acquiring an additional 273 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other EOG Resources news, EVP Kenneth W. Boedeker sold 1,995 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $145.09, for a total transaction of $289,454.55. Following the transaction, the executive vice president now owns 20,978 shares in the company, valued at $3,043,698.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Lloyd W. Helms, Jr. sold 2,720 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $146.08, for a total value of $397,337.60. Following the completion of the sale, the chief operating officer now owns 156,368 shares in the company, valued at approximately $22,842,237.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth W. Boedeker sold 1,995 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $145.09, for a total transaction of $289,454.55. Following the completion of the sale, the executive vice president now owns 20,978 shares of the company’s stock, valued at approximately $3,043,698.02. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

EOG Resources Stock Performance

EOG opened at $146.18 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $126.90 and its two-hundred day moving average price is $121.12. EOG Resources, Inc. has a 1-year low of $80.67 and a 1-year high of $150.88. The company has a market cap of $85.86 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.36 and a beta of 1.54.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th will be issued a dividend of $0.825 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 13th. This represents a $3.30 annualized dividend and a yield of 2.26%. EOG Resources’s dividend payout ratio is presently 23.57%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EOG. Susquehanna boosted their target price on shares of EOG Resources from $162.00 to $172.00 in a report on Monday, November 7th. Citigroup boosted their price target on shares of EOG Resources from $139.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 25th. Truist Financial dropped their price target on shares of EOG Resources from $182.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, August 15th. Royal Bank of Canada boosted their price target on shares of EOG Resources from $155.00 to $158.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, The Goldman Sachs Group upgraded shares of EOG Resources from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $143.00 in a research report on Tuesday, October 18th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.65.

EOG Resources Profile

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

Further Reading

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

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