EOG Resources, Inc. (NYSE:EOG) Stock Position Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 61.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 812,432 shares of the energy exploration company's stock after acquiring an additional 309,096 shares during the quarter. The Manufacturers Life Insurance Company owned 0.14% of EOG Resources worth $99,872,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. DRW Securities LLC lifted its holdings in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company's stock valued at $3,299,000 after purchasing an additional 13,324 shares in the last quarter. Caprock Group LLC grew its holdings in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company's stock valued at $1,489,000 after buying an additional 862 shares in the last quarter. University of Texas Texas AM Investment Management Co. increased its position in EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company's stock worth $1,370,000 after purchasing an additional 10,618 shares during the last quarter. KBC Group NV lifted its holdings in EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company's stock valued at $14,645,000 after acquiring an additional 12,210 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of EOG Resources by 44.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company's stock worth $1,303,000 after purchasing an additional 3,251 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the 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 sale, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Morgan Stanley dropped their price objective on shares of EOG Resources from $134.00 to $132.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Wells Fargo & Company boosted their price target 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. Barclays cut their price target on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Evercore ISI lowered their price target on EOG Resources from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Finally, Truist Financial upped their price objective on EOG Resources from $115.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $144.20.

EOG Resources Stock Up 0.4 %

Shares of EOG traded up $0.53 during midday trading on Wednesday, hitting $133.07. The company had a trading volume of 2,004,145 shares, compared to its average volume of 3,129,650. 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 52 week low of $108.94 and a 52 week high of $139.67. The company's 50 day moving average price is $128.52 and its 200 day moving average price is $126.22. The stock has a market cap of $74.85 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 3.51 and a beta of 1.28.

EOG Resources declared that its board has initiated a share repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership 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. Shareholders of record on Friday, January 17th will be paid 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 annualized dividend and a yield of 2.93%. EOG Resources's payout ratio is presently 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.