Sumitomo Mitsui Trust Group Inc. Purchases 42,819 Shares of EOG Resources, Inc. (NYSE:EOG)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,417,069 shares of the energy exploration company’s stock after purchasing an additional 42,819 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of EOG Resources worth $174,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the third quarter worth $26,000. Riverview Trust Co acquired a new position in shares of EOG Resources in the 2nd quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 2nd quarter valued at $28,000. Eastern Bank acquired a new stake in EOG Resources during the 3rd quarter worth $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the second quarter worth about $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EOG shares. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday. Sanford C. Bernstein decreased their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Wolfe Research began coverage on shares of EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler decreased their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $142.20.

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

EOG Resources Stock Performance

Shares of EOG stock opened at $133.10 on Wednesday. The stock has a 50 day simple moving average of $125.28 and a 200 day simple moving average of $125.94. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The stock has a market cap of $75.68 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28.

EOG Resources Increases Dividend

The business 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 $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

EOG Resources announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.