Fmr LLC Decreases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Fmr LLC decreased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 24.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,767,848 shares of the energy exploration company’s stock after selling 1,224,105 shares during the period. Fmr LLC owned approximately 0.67% of EOG Resources worth $463,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dai ichi Life Insurance Company Ltd lifted its stake in EOG Resources by 0.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 45,725 shares of the energy exploration company’s stock worth $5,621,000 after purchasing an additional 279 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in EOG Resources by 61.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 812,432 shares of the energy exploration company’s stock valued at $99,872,000 after buying an additional 309,096 shares in the last quarter. Private Trust Co. NA boosted its position in EOG Resources by 9.4% in the 3rd quarter. Private Trust Co. NA now owns 1,683 shares of the energy exploration company’s stock valued at $207,000 after buying an additional 144 shares during the period. Horizon Kinetics Asset Management LLC grew its stake in EOG Resources by 74.5% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 10,068 shares of the energy exploration company’s stock worth $1,238,000 after acquiring an additional 4,300 shares in the last quarter. Finally, DRW Securities LLC increased its position in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after acquiring an additional 13,324 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group dropped their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI decreased their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Finally, Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $147.00 to $149.00 in a research note on Monday, November 18th. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $144.20.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated 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 of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $133.28 on Friday. The firm has a market capitalization of $74.96 billion, a P/E ratio of 10.73, a PEG ratio of 3.54 and a beta of 1.28. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $128.82 and a 200 day moving average price of $126.30.

EOG Resources Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, January 17th. This is a positive change 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 2.93%. EOG Resources’s payout ratio is 29.31%.

EOG Resources announced that its board has approved a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.