EOG Resources, Inc. (NYSE:EOG) Stock Holdings Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in EOG Resources, Inc. (NYSE:EOG) by 61.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812,432 shares of the energy exploration company’s stock after purchasing an additional 309,096 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in EOG Resources were worth $99,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DRW Securities LLC lifted its position in shares of EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares during the last quarter. Caprock Group LLC lifted its position in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after buying an additional 862 shares during the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in shares of EOG Resources by 3,976.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares during the last quarter. KBC Group NV lifted its position in shares of EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of EOG Resources by 44.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of EOG stock opened at $132.54 on Wednesday. The stock’s fifty day simple moving average is $128.34 and its 200 day simple moving average is $126.18. 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 firm has a market cap of $74.55 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 3.62 and a beta of 1.28. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67.

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

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 paid a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.94%. EOG Resources’s payout ratio is currently 31.40%.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EOG shares. Susquehanna reduced 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. KeyCorp lowered their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI lowered their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Wells Fargo & Company raised their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.20.

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.