MQS Management LLC Purchases Shares of 6,905 EOG Resources, Inc. (NYSE:EOG)

MQS Management LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,905 shares of the energy exploration company’s stock, valued at approximately $849,000.

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

Insiders Place Their Bets

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 0.00 % 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. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on 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 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock opened at $133.10 on Wednesday. The company has a market capitalization of $74.86 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 3.53 and a beta of 1.28. The company has a current ratio of 2.31, a quick ratio of 2.07 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 is $125.47 and its 200-day moving average is $125.92.

EOG Resources announced that its board has authorized a stock buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. 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. EOG Resources’s dividend payout ratio is currently 29.31%.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Sanford C. Bernstein reduced their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley dropped their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Truist Financial raised their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $142.20.

EOG Resources Company 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.