Lazard Freres Gestion S.A.S. Has $30.31 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Lazard Freres Gestion S.A.S. trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,569 shares of the energy exploration company's stock after selling 10,121 shares during the period. Lazard Freres Gestion S.A.S.'s holdings in EOG Resources were worth $30,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources in the third quarter valued at $26,000. Riverview Trust Co purchased a new position in EOG Resources in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the second quarter valued at about $28,000. Eastern Bank purchased a new stake in shares of EOG Resources during the third quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources in the second quarter worth about $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG traded up $0.56 during trading hours on Tuesday, hitting $132.54. The company's stock had a trading volume of 3,129,539 shares, compared to its average volume of 3,134,564. The company has a 50-day simple moving average of $128.34 and a 200 day simple moving average of $126.18. 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 firm has a market capitalization of $74.55 billion, a PE ratio of 10.67, a PEG ratio of 3.62 and a beta of 1.28. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources's payout ratio is 31.40%.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

EOG has been the topic of several analyst reports. Raymond James lifted their price objective on EOG Resources from $156.00 to $167.00 and gave the stock a "strong-buy" rating in a report on Thursday, November 21st. Wells Fargo & Company lifted their price target on shares of EOG Resources from $135.00 to $147.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on shares of EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. Piper Sandler downgraded shares of EOG Resources from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $147.00 to $149.00 in a research report on Monday, November 18th. Finally, StockNews.com cut shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday, November 16th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $144.20.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company's stock.

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.