Empowered Funds LLC Has $34.12 Million Position in EOG Resources, Inc. (NYSE:EOG)

Empowered Funds LLC grew its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 277,538 shares of the energy exploration company's stock after purchasing an additional 7,419 shares during the quarter. EOG Resources makes up approximately 0.5% of Empowered Funds LLC's holdings, making the stock its 19th biggest holding. Empowered Funds LLC's holdings in EOG Resources were worth $34,118,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the 3rd quarter valued at about $26,000. Riverview Trust Co bought a new stake in EOG Resources in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in EOG Resources in the second quarter worth $28,000. Eastern Bank bought a new position in shares of EOG Resources during the third quarter worth $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of NYSE EOG traded down $0.60 during midday trading on Friday, hitting $134.59. 2,279,713 shares of the company's stock were exchanged, compared to its average volume of 3,134,220. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company's 50 day moving average price is $125.97 and its 200 day moving average price is $126.04. 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 firm has a market capitalization of $75.70 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28.

EOG Resources announced that its board has authorized a share buyback 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's dividend payout ratio (DPR) is currently 29.31%.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company's stock, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EOG shares. Scotiabank reduced their target price on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. Benchmark reiterated a "hold" rating on shares of EOG Resources in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, September 12th. Evercore ISI cut their price objective on shares of EOG Resources from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. Finally, Wolfe Research initiated coverage on EOG Resources in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $142.20.

EOG Resources 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.