NFJ Investment Group LLC Has $24.28 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

NFJ Investment Group LLC lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 11.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 197,526 shares of the energy exploration company’s stock after buying an additional 20,742 shares during the period. NFJ Investment Group LLC’s holdings in EOG Resources were worth $24,282,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays lowered their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. UBS Group lowered their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Fifteen equities research 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. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Stock Up 0.3 %

EOG Resources stock traded up $0.44 during trading hours on Tuesday, hitting $131.68. The stock had a trading volume of 455,065 shares, compared to its average volume of 3,111,119. The stock’s 50-day moving average price is $128.82 and its 200-day moving average price is $126.26. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $74.06 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 3.54 and a beta of 1.29.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.975 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 2.96%. EOG Resources’s payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has approved a share buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

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.