Franklin Resources Inc. Has $694.72 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Franklin Resources Inc. lifted its holdings in EOG Resources, Inc. (NYSE:EOG) by 64.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,284,228 shares of the energy exploration company’s stock after acquiring an additional 2,076,134 shares during the quarter. Franklin Resources Inc.’s holdings in EOG Resources were worth $694,717,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the second quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of EOG Resources during the third quarter valued at approximately $28,000. Gladius Capital Management LP bought a new stake in shares of EOG Resources during the second quarter valued at approximately $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $31,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Price Performance

EOG opened at $126.78 on Friday. The company has a fifty day simple moving average of $129.23 and a 200 day simple moving average of $126.40. 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 $71.31 billion, a P/E ratio of 10.21, a P/E/G ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 3.08%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources announced that its board has initiated a share buyback plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on EOG. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Susquehanna cut their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Raymond James lifted their price objective on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Barclays dropped their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, UBS Group reduced their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $144.20.

Insider Activity

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.