KBC Group NV Acquires 12,210 Shares of EOG Resources, Inc. (NYSE:EOG)

KBC Group NV boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,132 shares of the energy exploration company’s stock after acquiring an additional 12,210 shares during the quarter. KBC Group NV’s holdings in EOG Resources were worth $14,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources in the 3rd quarter worth about $26,000. Riverview Trust Co bought a new position in EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the second quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter worth approximately $28,000. Finally, Gladius Capital Management LP bought a new position in shares of EOG Resources during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity

In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $134.59 on Friday. The company has a market capitalization of $75.70 billion, a PE ratio of 10.84, a PEG ratio of 3.56 and a beta of 1.28. The business has a fifty day moving average price of $125.97 and a 200-day moving average price of $126.04. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. 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 declared that its board has authorized a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 29.31%.

Analyst Ratings Changes

Several analysts have weighed in on EOG shares. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp reduced their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Susquehanna lowered their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $142.20.

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.