Thrivent Financial for Lutherans Raises Position in EOG Resources, Inc. (NYSE:EOG)

Thrivent Financial for Lutherans boosted its stake in EOG Resources, Inc. (NYSE:EOG) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,850 shares of the energy exploration company’s stock after buying an additional 7,902 shares during the period. Thrivent Financial for Lutherans’ holdings in EOG Resources were worth $30,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources during the third quarter valued at approximately $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the second quarter valued at approximately $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the third quarter valued at approximately $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources during the second quarter valued at approximately $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Down 1.0 %

Shares of EOG stock opened at $135.19 on Wednesday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a fifty day moving average price of $126.90 and a 200-day moving average price of $126.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market cap of $76.04 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.57 and a beta of 1.28.

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

EOG Resources Increases Dividend

The firm 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 is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.88%. EOG Resources’s payout ratio is presently 29.31%.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

EOG has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and raised their price target for the company from $147.00 to $149.00 in a research report on Monday. Barclays reduced their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Scotiabank reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $142.30.

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.