EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 64.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,284,228 shares of the energy exploration company's stock after purchasing an additional 2,076,134 shares during the quarter. Franklin Resources Inc. owned approximately 0.94% of EOG Resources worth $694,717,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the third quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth about $28,000. Eastern Bank acquired a new stake in shares of EOG Resources in the third quarter worth approximately $28,000. Gladius Capital Management LP acquired a new stake in shares of EOG Resources in the second quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP purchased a new stake in EOG Resources in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was 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 directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company's stock.

EOG Resources Stock Up 0.2 %

Shares of NYSE:EOG traded up $0.20 during trading on Friday, hitting $126.77. The company's stock had a trading volume of 1,878,838 shares, compared to its average volume of 3,120,094. The company has a market capitalization of $71.30 billion, a PE ratio of 10.21, a PEG ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock's 50-day moving average price is $129.23 and its two-hundred day moving average price is $126.40.

EOG Resources declared that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are 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 given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group decreased their price target on shares of EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Piper Sandler cut EOG Resources from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $147.00 to $149.00 in a report on Monday, November 18th. Benchmark restated a "hold" rating on shares of EOG Resources in a research note on Tuesday, November 12th. Susquehanna cut their price objective on EOG Resources from $159.00 to $158.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Finally, StockNews.com cut EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday, November 16th. 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $144.20.

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.