EOG Resources, Inc. (NYSE:EOG) Holdings Boosted by Plato Investment Management Ltd

Plato Investment Management Ltd grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1,375.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,007 shares of the energy exploration company's stock after purchasing an additional 22,380 shares during the quarter. Plato Investment Management Ltd's holdings in EOG Resources were worth $2,948,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources in the 3rd quarter worth $26,000. Riverview Trust Co purchased a new position in EOG Resources in the second quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources in the second quarter valued at about $28,000. Eastern Bank purchased a new position in EOG Resources in the third quarter valued at about $28,000. Finally, Gladius Capital Management LP purchased a new position in EOG Resources in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

EOG stock traded up $0.84 during midday trading on Thursday, reaching $135.19. The company had a trading volume of 2,545,607 shares, compared to its average volume of 3,138,076. 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 stock has a 50 day moving average price of $125.70 and a 200 day moving average price of $125.98. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market capitalization of $76.04 billion, a PE ratio of 10.82, a P/E/G ratio of 3.53 and a beta of 1.28.

EOG Resources Increases Dividend

The firm 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 2.88%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's payout ratio is 29.31%.

EOG Resources declared that its board has initiated 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have commented on EOG shares. Susquehanna cut their price objective 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. Wolfe Research initiated coverage on EOG Resources in a research note on Thursday, July 18th. They set a "peer perform" rating for the company. Benchmark restated a "hold" rating on shares of EOG Resources in a research note on Tuesday. Piper Sandler lowered their target price on EOG Resources from $154.00 to $147.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com upgraded EOG Resources from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources has a consensus rating of "Hold" and an average price target of $142.20.

Insider Activity

In related news, Director Charles R. Crisp sold 6,500 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now owns 60,892 shares of the company's stock, valued at $7,648,035.20. The trade was a 9.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, 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.