Healthcare of Ontario Pension Plan Trust Fund Sells 120,000 Shares of EOG Resources, Inc. (NYSE:EOG)

Healthcare of Ontario Pension Plan Trust Fund lessened its position in EOG Resources, Inc. (NYSE:EOG) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 730,000 shares of the energy exploration company’s stock after selling 120,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.13% of EOG Resources worth $89,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DRW Securities LLC grew its stake in shares of EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC grew its stake in shares of EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its stake in shares of EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after buying an additional 10,618 shares during the last quarter. KBC Group NV boosted its holdings in shares of EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after purchasing an additional 12,210 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after purchasing an additional 3,251 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

EOG stock opened at $132.54 on Wednesday. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 3.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a 50 day moving average price of $128.34 and a 200-day moving average price of $126.18. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

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

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given 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 2.94%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Citigroup increased their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday. Susquehanna dropped their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $144.20.

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.