Charles Schwab Investment Management Inc. Has $2.14 Billion Stock Position in EOG Resources, Inc. (NYSE:EOG)

Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,411,032 shares of the energy exploration company’s stock after purchasing an additional 75,194 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.06% of EOG Resources worth $2,140,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the third quarter worth $26,000. Riverview Trust Co acquired a new position in shares of EOG Resources during the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth about $28,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter valued at about $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

NYSE:EOG opened at $136.61 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The stock’s 50 day moving average price is $127.27 and its two-hundred day moving average price is $126.10. The firm has a market capitalization of $76.84 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 3.58 and a beta of 1.28.

EOG Resources declared that its Board of Directors has approved a stock buyback program 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

Insider Activity

In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

EOG has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Morgan Stanley lowered their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company lifted their target price on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $147.00 to $149.00 in a report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $142.90.

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.