Kentucky Retirement Systems Sells 3,696 Shares of EOG Resources, Inc. (NYSE:EOG)

Kentucky Retirement Systems lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 8.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,612 shares of the energy exploration company’s stock after selling 3,696 shares during the period. Kentucky Retirement Systems’ holdings in EOG Resources were worth $4,870,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EOG. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources during the second quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources in the second quarter valued at about $28,000. Eastern Bank purchased a new stake in EOG Resources in the third quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new position in EOG Resources during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. Wells Fargo & Company reduced their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Finally, Truist Financial raised their price objective on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $142.20.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The trade was a 9.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

EOG Resources Stock Down 0.5 %

Shares of EOG stock 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. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market capitalization of $75.68 billion, a PE ratio of 10.83, a P/E/G ratio of 3.56 and a beta of 1.28. The stock’s 50-day simple moving average is $126.25 and its 200-day simple moving average is $125.99.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources announced that its board has approved a stock 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.