BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 15,196 Shares of EOG Resources, Inc. (NYSE:EOG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 13.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,889 shares of the energy exploration company’s stock after selling 15,196 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EOG Resources were worth $11,788,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cape ANN Savings Bank boosted its holdings in 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 worth $1,067,000 after buying an additional 79 shares during the period. CVA Family Office LLC grew its position in shares of EOG Resources by 11.0% during the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after purchasing an additional 81 shares in the last quarter. Bailard Inc. raised its stake in EOG Resources by 0.4% during the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after purchasing an additional 81 shares during the period. Everpar Advisors LLC lifted its holdings in EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after purchasing an additional 83 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in EOG Resources by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after purchasing an additional 85 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EOG. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $147.00 to $149.00 in a research note on Monday, November 18th. Morgan Stanley cut their price objective on 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 boosted 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, November 21st. Finally, Truist Financial lifted their price objective on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $144.20.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated 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 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. Insiders own 0.30% of the company’s stock.

EOG Resources Stock Up 0.1 %

Shares of NYSE:EOG opened at $133.26 on Monday. 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 business has a 50 day simple moving average of $128.82 and a two-hundred day simple moving average of $126.26. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a market capitalization of $74.95 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.54 and a beta of 1.28.

EOG Resources Increases Dividend

The firm also recently disclosed 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 represents a $3.90 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.