Connor Clark & Lunn Investment Management Ltd. Invests $10.75 Million in EOG Resources, Inc. (NYSE:EOG)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 87,468 shares of the energy exploration company’s stock, valued at approximately $10,752,000.

A number of other institutional investors have also recently bought and sold shares of the business. Cape ANN Savings Bank raised its holdings in shares of EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after acquiring an additional 79 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of EOG Resources by 11.0% during the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock valued at $103,000 after buying an additional 81 shares during the last quarter. Bailard Inc. grew its stake in shares of EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares in the last quarter. Everpar Advisors LLC increased its holdings in EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. raised its position in EOG Resources by 0.7% during the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after acquiring an additional 85 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, 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 position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of recent analyst reports. Raymond James lifted their price target on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Scotiabank dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. 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 research report on Thursday. Finally, Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and upped their price target for the company from $147.00 to $149.00 in a report on Monday. Fifteen investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $144.00.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $135.32 on Friday. The firm has a market capitalization of $76.11 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 3.58 and a beta of 1.28. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The business has a 50-day simple moving average of $127.61 and a 200 day simple moving average of $126.16. 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 of Directors has authorized a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.88%. EOG Resources’s payout ratio is presently 31.40%.

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.