Summit Global Investments Has $2.65 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Summit Global Investments lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,530 shares of the energy exploration company’s stock after selling 3,616 shares during the period. Summit Global Investments’ holdings in EOG Resources were worth $2,647,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in EOG Resources by 0.3% during the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after buying an additional 146,674 shares in the last quarter. Capital Research Global Investors lifted its position in shares of EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after acquiring an additional 373,365 shares during the period. Capital World Investors grew its holdings in shares of EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after purchasing an additional 1,361,538 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares during the period. Finally, Capital International Investors raised its stake in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after purchasing an additional 766,056 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EOG shares. JPMorgan Chase & Co. reduced their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. UBS Group reduced their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Piper Sandler cut their target price on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Morgan Stanley decreased their price target 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, StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.20.

EOG Resources Stock Performance

NYSE:EOG opened at $126.46 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a 50 day simple moving average of $125.15 and a two-hundred day simple moving average of $126.08. The company has a market capitalization of $71.91 billion, a PE ratio of 9.77, a P/E/G ratio of 3.24 and a beta of 1.28.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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. This represents a $3.90 annualized dividend and a dividend yield of 3.08%. EOG Resources’s dividend payout ratio is 28.11%.

EOG Resources announced that its Board of Directors has approved a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on 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 sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

About EOG Resources

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.