EOG Resources, Inc. (NYSE:EOG) Shares Bought by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,040 shares of the energy exploration company’s stock after buying an additional 400 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in EOG Resources were worth $1,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter valued at $26,000. Riverview Trust Co acquired a new position in shares of EOG Resources during the second quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources during the second quarter valued at about $28,000. Eastern Bank acquired a new stake in EOG Resources in the third quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new stake in EOG Resources in the second quarter worth about $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $136.35 on Friday. The company has a market cap of $76.69 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 3.59 and a beta of 1.28. The company’s fifty day moving average is $127.95 and its two-hundred day moving average is $126.18. 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, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67.

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 paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on EOG. Evercore ISI dropped their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Barclays lowered their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Truist Financial upped their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $144.00.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.