EOG Resources, Inc. (NYSE:EOG) Stock Position Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 67.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,345 shares of the energy exploration company's stock after selling 264,028 shares during the quarter. Retirement Systems of Alabama's holdings in EOG Resources were worth $15,409,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EOG. Raymond James & Associates lifted its position in EOG Resources by 4.7% during the 2nd quarter. Raymond James & Associates now owns 930,030 shares of the energy exploration company's stock worth $117,063,000 after acquiring an additional 41,529 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in EOG Resources by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 315,527 shares of the energy exploration company's stock valued at $39,715,000 after buying an additional 11,192 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in EOG Resources by 11.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,440 shares of the energy exploration company's stock valued at $936,000 after buying an additional 780 shares during the period. Dakota Wealth Management increased its stake in EOG Resources by 20.8% in the 2nd quarter. Dakota Wealth Management now owns 2,668 shares of the energy exploration company's stock valued at $336,000 after buying an additional 460 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in EOG Resources during the 2nd quarter worth $263,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the 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 transaction, the director now owns 43,532 shares of the company's stock, valued at $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 SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company's stock.

EOG Resources Trading Down 1.7 %

Shares of NYSE EOG traded down $2.15 during midday trading on Monday, reaching $124.62. 2,898,640 shares of the stock were exchanged, compared to its average volume of 3,119,178. The stock has a 50 day moving average price of $129.23 and a 200-day moving average price of $126.43. 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 has a market capitalization of $70.09 billion, a P/E ratio of 10.03, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

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

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's dividend payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on EOG Resources from $135.00 to $147.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Benchmark reissued a "hold" rating on shares of EOG Resources in a research note on Tuesday, November 12th. Truist Financial lifted their price target on EOG Resources from $115.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Finally, Scotiabank cut their price objective on EOG Resources from $150.00 to $140.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Fifteen analysts have rated the stock with a hold rating, seven have given 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 a consensus target price of $143.80.

About EOG Resources

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.