EOG Resources, Inc. (NYSE:EOG) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,879 shares of the energy exploration company's stock after selling 4,836 shares during the quarter. Gateway Investment Advisers LLC's holdings in EOG Resources were worth $1,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Charles Schwab Investment Management Inc. raised its holdings in shares of EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company's stock worth $2,140,338,000 after acquiring an additional 75,194 shares during the period. Geode Capital Management LLC raised its stake in EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company's stock worth $1,513,446,000 after purchasing an additional 180,755 shares during the period. Ameriprise Financial Inc. boosted its holdings in EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company's stock valued at $1,549,098,000 after purchasing an additional 260,727 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company's stock valued at $694,717,000 after buying an additional 2,076,134 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of EOG Resources by 9.1% during the 2nd 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 last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Down 1.0 %

Shares of EOG stock traded down $1.35 during trading hours on Friday, reaching $136.70. 2,837,860 shares of the stock were exchanged, compared to its average volume of 2,785,113. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The business's fifty day moving average is $128.96 and its two-hundred day moving average is $127.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm has a market capitalization of $76.89 billion, a P/E ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29.

EOG Resources declared that its board has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in 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 usually a sign that the company's board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.85%. 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 (DPR) is presently 29.31%.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now owns 43,532 shares of the company's stock, 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 can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company's stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of recent analyst reports. Truist Financial upped their price objective on EOG Resources from $135.00 to $137.00 and gave the company a "hold" rating in a report on Monday, January 13th. Bank of America reiterated a "neutral" rating and set a $144.00 price target (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Wolfe Research upgraded shares of EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Piper Sandler lowered their target price on shares of EOG Resources from $149.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, December 17th. Finally, Benchmark reissued a "hold" rating on shares of EOG Resources in a research note on Monday, January 13th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of "Hold" and an average price target of $143.48.

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.