iA Global Asset Management Inc. Trims Position in EOG Resources, Inc. (NYSE:EOG)

iA Global Asset Management Inc. lowered its position in EOG Resources, Inc. (NYSE:EOG) by 62.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,198 shares of the energy exploration company’s stock after selling 61,420 shares during the quarter. iA Global Asset Management Inc.’s holdings in EOG Resources were worth $4,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EOG. Cape ANN Savings Bank grew its stake in shares of EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares during the period. Bailard Inc. grew its position in EOG Resources by 0.4% in the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after acquiring an additional 81 shares during the period. Everpar Advisors LLC increased its stake in EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after acquiring an additional 83 shares during the last quarter. Altman Advisors Inc. raised its position in EOG Resources by 0.7% in the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock valued at $1,603,000 after purchasing an additional 85 shares during the period. Finally, X Square Capital LLC lifted its stake in shares of EOG Resources by 2.7% in the 2nd quarter. X Square Capital LLC now owns 3,236 shares of the energy exploration company’s stock valued at $407,000 after purchasing an additional 86 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

NYSE:EOG opened at $127.81 on Friday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month 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. The firm has a market capitalization of $71.89 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 3.44 and a beta of 1.29. The business’s fifty day moving average price is $129.37 and its 200 day moving average price is $126.31.

EOG Resources declared that its Board of Directors has initiated a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm 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 $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 29.31%.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EOG shares. 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. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $147.00 to $149.00 in a research note on Monday, November 18th. Evercore ISI lowered their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. KeyCorp cut their target price 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. Finally, StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.20.

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.