Lazard Freres Gestion S.A.S. Sells 10,121 Shares of EOG Resources, Inc. (NYSE:EOG)

Lazard Freres Gestion S.A.S. trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,569 shares of the energy exploration company’s stock after selling 10,121 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in EOG Resources were worth $30,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC raised its stake in EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after buying an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of EOG Resources during the second quarter valued at about $106,990,000. Legal & General Group Plc raised its position in shares of EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the last quarter. National Bank of Canada FI boosted its stake in EOG Resources by 237.9% in the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock worth $61,741,000 after purchasing an additional 343,527 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after purchasing an additional 333,947 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred 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 directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research analyst reports. UBS Group decreased their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Morgan Stanley lowered their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Evercore ISI cut their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $147.00 to $149.00 in a research note on Monday, November 18th. Finally, Susquehanna dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and a consensus target price of $144.00.

EOG Resources Price Performance

Shares of NYSE:EOG traded up $0.10 during trading on Tuesday, reaching $132.08. 355,593 shares of the company’s stock traded hands, compared to its average volume of 3,121,166. The firm has a market cap of $74.29 billion, a PE ratio of 10.63, a P/E/G ratio of 3.62 and a beta of 1.28. The company has a 50-day simple moving average of $128.16 and a 200-day simple moving average of $126.16. 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 fifty-two week low of $108.94 and a fifty-two week high of $139.67.

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

EOG Resources Increases Dividend

The firm 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 a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.95%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

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.