Everence Capital Management Inc. Acquires 13,060 Shares of EOG Resources, Inc. (NYSE:EOG)

Everence Capital Management Inc. raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 73.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,780 shares of the energy exploration company’s stock after acquiring an additional 13,060 shares during the quarter. Everence Capital Management Inc.’s holdings in EOG Resources were worth $3,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EOG. Franklin Resources Inc. raised its stake in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares during the period. Fisher Asset Management LLC raised its stake in EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of EOG Resources in the second quarter worth approximately $106,990,000. Legal & General Group Plc raised its position in shares of 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 valued at $609,300,000 after purchasing an additional 403,676 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of EOG Resources by 237.9% during the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after buying an additional 343,527 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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 $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EOG. Piper Sandler decreased their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Morgan Stanley reduced their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Truist Financial lifted their price objective on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Citigroup increased their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.48.

EOG Resources Trading Up 1.1 %

Shares of NYSE:EOG traded up $1.41 during trading hours on Friday, hitting $126.12. 585,501 shares of the company’s stock traded hands, compared to its average volume of 1,711,786. The firm has a market capitalization of $70.94 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. The business has a fifty day moving average price of $127.18 and a 200-day moving average price of $126.39. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 3.09%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 31.40%.

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.