Daiwa Securities Group Inc. Increases Position in EOG Resources, Inc. (NYSE:EOG)

Daiwa Securities Group Inc. lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,879 shares of the energy exploration company’s stock after buying an additional 6,919 shares during the period. Daiwa Securities Group Inc.’s holdings in EOG Resources were worth $8,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in EOG Resources by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after acquiring an additional 75,194 shares during the period. Ameriprise Financial Inc. raised its stake in shares of EOG Resources by 2.2% during 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 last quarter. Legal & General Group Plc lifted its holdings in shares of EOG Resources by 9.1% during 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 purchasing an additional 403,676 shares during the period. Dimensional Fund Advisors LP grew its position in EOG Resources by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock valued at $563,070,000 after buying an additional 258,732 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in EOG Resources by 3.2% in the 3rd quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company’s stock valued at $523,024,000 after buying an additional 130,822 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EOG shares. KeyCorp reduced their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. UBS Group lowered their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $147.00 to $149.00 in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $144.00.

EOG Resources Stock Performance

NYSE EOG opened at $131.98 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $74.23 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 3.62 and a beta of 1.28. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The business has a fifty day moving average of $128.16 and a 200-day moving average of $126.16.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.95%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 29.31%.

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

Insiders Place Their Bets

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 sale, the director now owns 43,532 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

EOG Resources 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.