iA Global Asset Management Inc. Sells 61,420 Shares of EOG Resources, Inc. (NYSE:EOG)

iA Global Asset Management Inc. cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 62.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,198 shares of the energy exploration company's stock after selling 61,420 shares during the period. iA Global Asset Management Inc.'s holdings in EOG Resources were worth $4,573,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in EOG Resources by 0.4% in the third 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. Ameriprise Financial Inc. raised its position in shares of EOG Resources by 2.2% during 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 period. Legal & General Group Plc raised its position 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 valued at $609,300,000 after purchasing an additional 403,676 shares during the period. Dimensional Fund Advisors LP raised its position in shares of EOG Resources by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company's stock valued at $563,070,000 after purchasing an additional 258,732 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of EOG Resources by 3.2% during the 3rd quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company's stock valued at $523,024,000 after purchasing an additional 130,822 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

EOG Resources Trading Down 1.7 %

Shares of EOG stock traded down $2.21 during trading hours on Friday, reaching $127.81. 2,927,912 shares of the stock were exchanged, compared to its average volume of 2,803,760. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $129.37 and its 200-day moving average price is $126.31. The firm has a market capitalization of $71.89 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 3.44 and a beta of 1.29.

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

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.05%. EOG Resources's payout ratio is currently 31.40%.

Analysts Set New Price Targets

EOG has been the topic of several recent analyst reports. Piper Sandler downgraded shares of EOG Resources from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Scotiabank decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada restated a "sector perform" rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of EOG Resources from $135.00 to $147.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Finally, Susquehanna reduced their price target on shares of EOG Resources from $159.00 to $158.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $144.20.

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.