Rockefeller Capital Management L.P. Acquires 29,268 Shares of EOG Resources, Inc. (NYSE:EOG)

Rockefeller Capital Management L.P. increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 4.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 646,778 shares of the energy exploration company’s stock after buying an additional 29,268 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in EOG Resources were worth $79,517,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 0.4% in 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of EOG Resources by 2.2% during 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 acquiring an additional 260,727 shares during the period. Legal & General Group Plc raised its stake in EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of EOG Resources by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock worth $563,070,000 after purchasing an additional 258,732 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of EOG Resources by 3.2% during 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 purchasing an additional 130,822 shares during the period. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

EOG opened at $133.09 on Friday. The firm’s 50-day moving average price is $128.67 and its 200-day moving average price is $126.27. The company has a market cap of $74.86 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 3.54 and a beta of 1.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

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 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 2.93%. EOG Resources’s payout ratio is 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 purchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Evercore ISI lowered their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Piper Sandler cut EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $147.00 to $149.00 in a research note on Monday, November 18th. Scotiabank lowered their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.20.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.