Dai ichi Life Insurance Company Ltd Grows Position in EOG Resources, Inc. (NYSE:EOG)

Dai ichi Life Insurance Company Ltd boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,725 shares of the energy exploration company’s stock after acquiring an additional 279 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in EOG Resources were worth $5,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new position in EOG Resources during the first quarter valued at approximately $312,000. B. Riley Wealth Advisors Inc. boosted its position in shares of EOG Resources by 32.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,763 shares of the energy exploration company’s stock valued at $1,871,000 after acquiring an additional 3,613 shares during the last quarter. Tidal Investments LLC increased its position in EOG Resources by 13.3% in the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock worth $6,518,000 after purchasing an additional 5,972 shares during the last quarter. Hancock Whitney Corp purchased a new stake in EOG Resources during the first quarter valued at $208,000. Finally, iA Global Asset Management Inc. lifted its position in EOG Resources by 13.8% during the first quarter. iA Global Asset Management Inc. now owns 82,063 shares of the energy exploration company’s stock valued at $10,491,000 after purchasing an additional 9,948 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources 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 value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $132.54 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $74.55 billion, a PE ratio of 10.67, a P/E/G ratio of 3.51 and a beta of 1.28. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a fifty day moving average price of $128.34 and a 200-day moving average price of $126.18.

EOG Resources declared that its Board of Directors has initiated a stock buyback 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 usually an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group decreased their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna decreased their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Morgan Stanley decreased their price target 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. Finally, Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.