Geode Capital Management LLC Increases Holdings in EOG Resources, Inc. (NYSE:EOG)

Geode Capital Management LLC raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,315,735 shares of the energy exploration company's stock after buying an additional 180,755 shares during the period. Geode Capital Management LLC owned about 2.19% of EOG Resources worth $1,513,446,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources in the 3rd quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources in the second quarter valued at approximately $28,000. Eastern Bank bought a new position in shares of EOG Resources in the third quarter worth about $28,000. Gladius Capital Management LP acquired a new position in EOG Resources during the 2nd quarter valued at $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of EOG Resources in the 3rd quarter worth approximately $31,000. Institutional investors own 89.91% of the company's stock.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

EOG has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Benchmark reaffirmed a "hold" rating on shares of EOG Resources in a research report on Tuesday, November 12th. Morgan Stanley decreased their price objective on EOG Resources from $134.00 to $132.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Susquehanna dropped their target price 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, Wells Fargo & Company lifted their target price on EOG Resources from $135.00 to $147.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $144.20.

EOG Resources Trading Up 0.8 %

Shares of NYSE EOG traded up $0.98 during trading on Wednesday, reaching $127.59. The company had a trading volume of 5,778,576 shares, compared to its average volume of 3,129,266. 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 stock has a market cap of $71.76 billion, a P/E ratio of 10.18, a PEG ratio of 3.40 and a beta of 1.29. The company's fifty day moving average price is $129.46 and its 200-day moving average price is $126.36. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources announced that its board has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 yield of 3.06%. This is a positive change from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources's payout ratio is presently 29.31%.

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.