Harbour Investments Inc. Reduces Stock Position in EOG Resources, Inc. (NYSE:EOG)

Harbour Investments Inc. decreased its position in EOG Resources, Inc. (NYSE:EOG) by 4.9% during the third quarter, Holdings Channel.com reports. The fund owned 2,860 shares of the energy exploration company’s stock after selling 148 shares during the quarter. Harbour Investments Inc.’s holdings in EOG Resources were worth $352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EOG. Capital World Investors increased its holdings in 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 valued at $3,423,869,000 after purchasing an additional 1,361,538 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of EOG Resources during the second quarter valued at approximately $106,990,000. Capital International Investors raised its holdings in shares of EOG Resources by 7.1% during 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 acquiring an additional 766,056 shares in the last quarter. Legal & General Group Plc lifted its stake in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the period. Finally, Capital Research Global Investors increased its position in 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 purchasing an additional 373,365 shares during the period. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. KeyCorp cut their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company dropped their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Evercore ISI decreased their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Piper Sandler dropped their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Fourteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $142.20.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at $9,615,375. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred 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 owns 60,892 shares in the company, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $134.56 on Friday. 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 market cap of $75.68 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. The business has a 50-day simple moving average of $126.25 and a two-hundred day simple moving average of $126.03. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67.

EOG Resources Increases Dividend

The business also recently disclosed 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. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its board has authorized a stock buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.