Swedbank AB Raises Position in EOG Resources, Inc. (NYSE:EOG)

Swedbank AB raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 132.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 223,432 shares of the energy exploration company’s stock after acquiring an additional 127,126 shares during the period. Swedbank AB’s holdings in EOG Resources were worth $27,466,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. KeyCorp decreased their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Susquehanna lowered their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Truist Financial lifted their price objective on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $144.00.

EOG Resources Stock Down 3.2 %

EOG Resources stock opened at $131.98 on Tuesday. The firm has a market cap of $74.23 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 3.62 and a beta of 1.28. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a fifty day simple moving average of $128.16 and a two-hundred day simple moving average of $126.16.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date 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 dividend yield of 2.95%. EOG Resources’s payout ratio is currently 29.31%.

EOG Resources declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.