Nexus Investment Management ULC Has $24.10 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Nexus Investment Management ULC decreased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,598 shares of the energy exploration company's stock after selling 1,900 shares during the quarter. EOG Resources comprises approximately 2.4% of Nexus Investment Management ULC's holdings, making the stock its 21st largest position. Nexus Investment Management ULC's holdings in EOG Resources were worth $24,099,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the 3rd quarter valued at about $26,000. Decker Retirement Planning Inc. bought a new stake in EOG Resources during the fourth quarter worth approximately $27,000. Eastern Bank acquired a new position in EOG Resources in the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of EOG Resources in the third quarter valued at $31,000. Finally, HM Payson & Co. boosted its stake in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company's stock worth $40,000 after acquiring an additional 220 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of EOG Resources stock traded down $1.35 during midday trading on Friday, hitting $136.70. The company had a trading volume of 2,837,860 shares, compared to its average volume of 2,785,113. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The business's 50 day simple moving average is $128.96 and its two-hundred day simple moving average is $127.07. The stock has a market cap of $76.89 billion, a PE ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. 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. EOG Resources's dividend payout ratio is currently 29.31%.

EOG Resources declared that its board has initiated a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows 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 management believes its stock is undervalued.

Analyst Upgrades and Downgrades

EOG has been the subject of several analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $150.00 target price on shares of EOG Resources in a report on Monday, January 6th. Truist Financial raised their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Citigroup boosted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Raymond James lifted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company upgraded EOG Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $143.48.

Insider Buying and Selling

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 can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company's stock, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.