EOG Resources, Inc. (NYSE:EOG) Stake Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 12.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,885 shares of the energy exploration company’s stock after selling 14,230 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in EOG Resources were worth $12,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources during the third quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the 2nd quarter valued at about $28,000. Eastern Bank acquired a new position in EOG Resources during the 3rd quarter valued at about $28,000. Gladius Capital Management LP bought a new stake in shares of EOG Resources during the 2nd quarter worth about $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources in the 3rd quarter worth approximately $31,000. 89.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Truist Financial raised their price objective on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Barclays lowered their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley decreased their target price on shares of 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. Finally, UBS Group cut their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $144.20.

Insider Buying and Selling at EOG Resources

In other 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 transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, 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 link. Corporate insiders own 0.20% of the company’s stock.

EOG Resources Stock Up 0.8 %

Shares of NYSE:EOG opened at $127.59 on Thursday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market cap of $71.76 billion, a P/E ratio of 10.27, a P/E/G ratio of 3.40 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $129.46 and its two-hundred day moving average price is $126.36.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued 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 of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 3.06%. EOG Resources’s dividend payout ratio is currently 29.31%.

EOG Resources announced that its board has approved a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.