BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in EOG Resources, Inc. (NYSE:EOG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in EOG Resources, Inc. (NYSE:EOG) by 13.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,889 shares of the energy exploration company’s stock after selling 15,196 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EOG Resources were worth $11,788,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EOG. Edgestream Partners L.P. purchased a new position in shares of EOG Resources during the 3rd quarter valued at about $1,410,000. Eventide Asset Management LLC raised its stake in shares of EOG Resources by 16.0% during the third quarter. Eventide Asset Management LLC now owns 24,710 shares of the energy exploration company’s stock worth $3,038,000 after acquiring an additional 3,404 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of EOG Resources by 3.9% in the 3rd quarter. Captrust Financial Advisors now owns 590,863 shares of the energy exploration company’s stock worth $72,635,000 after acquiring an additional 22,022 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of EOG Resources by 5.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 26,188 shares of the energy exploration company’s stock valued at $3,219,000 after purchasing an additional 1,442 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its position in EOG Resources by 2.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 22,412 shares of the energy exploration company’s stock worth $2,755,000 after purchasing an additional 532 shares during the period. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

EOG Resources Trading Up 0.1 %

Shares of NYSE:EOG opened at $133.26 on Monday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The stock’s fifty day moving average price is $128.82 and its 200-day moving average price is $126.26. The company has a market cap of $74.95 billion, a P/E ratio of 10.73, a PEG ratio of 3.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

Analyst Ratings Changes

EOG has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Wells Fargo & Company boosted their price objective on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Company 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.