Kentucky Retirement Systems Insurance Trust Fund Sells 1,702 Shares of EOG Resources, Inc. (NYSE:EOG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG) by 9.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,835 shares of the energy exploration company’s stock after selling 1,702 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in EOG Resources were worth $2,070,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Capital Research Global Investors raised its position in shares of EOG Resources by 1.3% in the first 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 purchasing an additional 373,365 shares during the period. Capital World Investors boosted its holdings in shares of EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after acquiring an additional 1,361,538 shares during the period. Ameriprise Financial Inc. grew 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 valued at $1,549,098,000 after purchasing an additional 260,727 shares during the last quarter. Capital International Investors grew its position in shares of 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 during the last quarter. Finally, Legal & General Group Plc lifted its holdings in EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 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 $134.56 on Friday. The stock’s 50-day moving average is $126.25 and its 200-day moving average is $125.99. The stock has a market cap of $75.68 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. 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 announced that its board has approved a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

Insider Transactions at EOG Resources

In related news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’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 in the company, valued at $9,615,375. This trade represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EOG shares. Susquehanna reduced their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday. Barclays reduced their price target on 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 their target price on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Evercore ISI decreased their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.