Synovus Financial Corp Grows Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Synovus Financial Corp increased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 105.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,356 shares of the energy exploration company's stock after buying an additional 49,899 shares during the period. Synovus Financial Corp's holdings in EOG Resources were worth $11,968,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company's stock worth $147,621,000 after purchasing an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of EOG Resources during the second quarter valued at about $106,990,000. Legal & General Group Plc increased its holdings in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock worth $609,300,000 after buying an additional 403,676 shares during the period. National Bank of Canada FI boosted its holdings in EOG Resources by 237.9% during the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company's stock valued at $61,741,000 after acquiring an additional 343,527 shares during the period. Finally, Victory Capital Management Inc. grew its position in EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company's stock worth $136,874,000 after acquiring an additional 333,947 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

NYSE:EOG traded up $0.10 on Friday, reaching $126.67. 1,367,404 shares of the company's stock traded hands, compared to its average volume of 3,117,623. The stock has a 50-day simple moving average of $129.36 and a 200-day simple moving average of $126.37. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market cap of $71.25 billion, a PE ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29. 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 declared that its board has authorized a stock 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 buy up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 3.08%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources's dividend payout ratio is presently 29.31%.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm's 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 transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. 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 research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Susquehanna decreased their price target on shares of EOG Resources from $159.00 to $158.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Barclays reduced their target price on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their target price on EOG Resources from $135.00 to $147.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Fifteen 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 company. According to MarketBeat.com, EOG Resources has an average rating of "Hold" and an average price target of $144.20.

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.