Nordea Investment Management AB Reduces Position in EOG Resources, Inc. (NYSE:EOG)

Nordea Investment Management AB reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,910 shares of the energy exploration company's stock after selling 5,352 shares during the quarter. Nordea Investment Management AB's holdings in EOG Resources were worth $5,121,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in shares of EOG Resources during the 2nd quarter worth $2,251,000. Choreo LLC bought a new position in EOG Resources during the 2nd quarter worth about $1,195,000. Coldstream Capital Management Inc. increased its position in EOG Resources by 8.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,785 shares of the energy exploration company's stock valued at $728,000 after purchasing an additional 436 shares during the period. LPL Financial LLC raised its holdings in shares of EOG Resources by 12.2% in the 2nd quarter. LPL Financial LLC now owns 394,327 shares of the energy exploration company's stock valued at $49,634,000 after purchasing an additional 42,982 shares in the last quarter. Finally, BOKF NA lifted its position in shares of EOG Resources by 2.4% in the 2nd quarter. BOKF NA now owns 24,071 shares of the energy exploration company's stock worth $3,030,000 after purchasing an additional 567 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

NYSE EOG traded up $3.08 on Friday, hitting $131.54. 4,882,823 shares of the company's stock traded hands, compared to its average volume of 3,218,920. The firm's 50-day moving average price is $127.97 and its two-hundred day moving average price is $126.69. The firm has a market capitalization of $73.98 billion, a PE ratio of 10.59, a P/E/G ratio of 3.37 and a beta of 1.29. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67.

EOG Resources announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are 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 issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.96%. This is a positive change from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources's dividend payout ratio is presently 29.31%.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company's stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company's stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised shares of EOG Resources from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. StockNews.com raised EOG Resources from a "hold" rating to a "buy" rating in a research report on Saturday. KeyCorp dropped their price objective on EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Mizuho reduced their target price on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Finally, Barclays lowered their price target on shares of EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $143.71.

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.