Connor Clark & Lunn Investment Management Ltd. Acquires New Position in EOG Resources, Inc. (NYSE:EOG)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 87,468 shares of the energy exploration company's stock, valued at approximately $10,752,000.

Several other large investors also recently bought and sold shares of EOG. Advisors Asset Management Inc. increased its stake in EOG Resources by 3.8% during the 1st quarter. Advisors Asset Management Inc. now owns 29,899 shares of the energy exploration company's stock worth $3,822,000 after buying an additional 1,092 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in shares of EOG Resources in the first quarter worth about $243,000. Capital International Sarl purchased a new position in EOG Resources in the first quarter valued at about $271,000. Canada Pension Plan Investment Board grew its stake in EOG Resources by 67.3% during the 1st 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. Finally, Gamco Investors INC. ET AL increased its holdings in EOG Resources by 23.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company's stock worth $268,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. KeyCorp reduced their target price on EOG Resources from $157.00 to $150.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on EOG Resources from $135.00 to $147.00 and gave the company an "equal weight" rating in a report on Thursday. Benchmark reaffirmed a "hold" rating on shares of EOG Resources in a research report on Tuesday, November 12th. Barclays decreased their target price on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Finally, Truist Financial increased their price target on EOG Resources from $115.00 to $135.00 and gave the stock a "hold" rating in a research 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 issued a strong buy rating to the company. According to MarketBeat.com, EOG Resources has an average rating of "Hold" and a consensus price target of $144.00.

Insiders Place Their Bets

In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 74,250 shares of the company's stock, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources 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 transaction, the director now 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

EOG Resources Price Performance

EOG stock traded up $0.85 during trading hours on Friday, hitting $136.35. 2,288,864 shares of the stock traded hands, compared to its average volume of 3,123,297. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $127.61 and a 200 day simple moving average of $126.16. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a market cap of $76.69 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.58 and a beta of 1.28.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.86%. EOG Resources's dividend payout ratio is currently 31.40%.

EOG Resources declared that its Board of Directors has authorized a share repurchase plan 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 buy up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

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.