Metis Global Partners LLC Has $3.02 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Metis Global Partners LLC boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,580 shares of the energy exploration company’s stock after buying an additional 2,088 shares during the quarter. Metis Global Partners LLC’s holdings in EOG Resources were worth $3,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EOG. Vanguard Group Inc. raised its holdings in EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after acquiring an additional 146,674 shares in the last quarter. Capital Research Global Investors boosted its position in EOG Resources by 1.3% during the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after acquiring an additional 373,365 shares during the last quarter. Capital World Investors grew its position in shares of EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after buying an additional 1,361,538 shares during the period. Ameriprise Financial Inc. increased its position in EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after buying an additional 260,727 shares in the last quarter. Finally, Capital International Investors increased its stake in EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after purchasing an additional 766,056 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $135.19 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. The stock has a 50-day simple moving average of $125.70 and a two-hundred day simple moving average of $125.98. The firm has a market capitalization of $76.04 billion, a PE ratio of 10.88, a P/E/G ratio of 3.56 and a beta of 1.28. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources declared that its Board of Directors has approved a stock 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 buy up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.88%. This is a positive change 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 currently 29.31%.

Insiders Place Their Bets

In other EOG Resources news, 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 directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial upped their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday. Scotiabank decreased their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley decreased their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. 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, the stock has a consensus rating of “Hold” and an average target price of $142.20.

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.