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

Daiwa Securities Group Inc. increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 11.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 69,879 shares of the energy exploration company’s stock after acquiring 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 purchasing an additional 75,194 shares during the period. Ameriprise Financial Inc. boosted its stake in 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 buying an additional 260,727 shares during the period. Legal & General Group Plc boosted its stake in 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 buying an additional 403,676 shares during the period. Dimensional Fund Advisors LP increased its position in shares of EOG Resources by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock valued at $563,070,000 after acquiring an additional 258,732 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of 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 acquiring an additional 130,822 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EOG shares. Truist Financial increased their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Scotiabank cut 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. Raymond James increased their target price on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley dropped their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Fifteen research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $144.00.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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 directly 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE EOG opened at $131.98 on Tuesday. The stock’s 50-day simple moving average is $128.16 and its 200-day simple moving average is $126.16. The firm has a market capitalization of $74.23 billion, a PE 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 company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

EOG Resources announced that its Board of Directors has authorized a share buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.