EOG Resources, Inc. (NYSE:EOG) Shares Sold by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 246,569 shares of the energy exploration company’s stock after selling 10,121 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in EOG Resources were worth $30,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Avestar Capital LLC raised its holdings in shares of EOG Resources by 37.8% during the 3rd quarter. Avestar Capital LLC now owns 2,594 shares of the energy exploration company’s stock worth $319,000 after acquiring an additional 711 shares during the period. Brooklyn Investment Group raised its stake in EOG Resources by 11.8% during the third quarter. Brooklyn Investment Group now owns 3,283 shares of the energy exploration company’s stock worth $404,000 after purchasing an additional 347 shares during the period. Quantbot Technologies LP acquired a new position in EOG Resources in the 3rd quarter valued at about $1,443,000. D.A. Davidson & CO. grew its stake in shares of EOG Resources by 3.2% in the 3rd quarter. D.A. Davidson & CO. now owns 202,850 shares of the energy exploration company’s stock valued at $24,936,000 after buying an additional 6,216 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in shares of EOG Resources by 0.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 45,725 shares of the energy exploration company’s stock worth $5,621,000 after buying an additional 279 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Up 0.1 %

Shares of EOG Resources stock traded up $0.10 during trading hours on Tuesday, hitting $132.08. The company had a trading volume of 355,593 shares, compared to its average volume of 3,121,166. The company’s 50-day moving average is $128.16 and its two-hundred day moving average is $126.16. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month 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. The company has a market cap of $74.29 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 3.62 and a beta of 1.28.

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 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 dividend yield of 2.95%. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

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 outstanding shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Finally, UBS Group lowered their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and an average price target of $144.00.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.