LS Investment Advisors LLC Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

LS Investment Advisors LLC lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,412 shares of the energy exploration company’s stock after selling 655 shares during the period. LS Investment Advisors LLC’s holdings in EOG Resources were worth $911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UniSuper Management Pty Ltd increased its position 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 valued at $1,998,000 after acquiring an additional 10,868 shares during the period. University of Texas Texas AM Investment Management Co. increased its stake in shares of EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after buying an additional 10,618 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in EOG Resources by 23.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock worth $3,209,000 after purchasing an additional 4,749 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in 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 buying an additional 3,251 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of EOG Resources by 67.3% during the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after purchasing an additional 339,480 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EOG. Sanford C. Bernstein decreased their price target on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research report on Monday, October 14th. Truist Financial reduced their price objective on EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Wolfe Research began coverage on EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Fourteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.20.

Insider Activity at EOG Resources

In other EOG Resources news, 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 value of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction 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 directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction 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 owns 60,892 shares in the company, valued at $7,648,035.20. The trade was 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 currently owned by company insiders.

EOG Resources Stock Down 0.6 %

EOG stock opened at $126.46 on Friday. The business’s 50-day moving average is $125.15 and its two-hundred day moving average is $126.08. The company has a market cap of $71.91 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 3.24 and a beta of 1.28. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12.

EOG Resources Increases Dividend

The firm 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 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 3.08%. EOG Resources’s dividend payout ratio (DPR) is presently 28.11%.

EOG Resources announced that its board has initiated a stock repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.