Massachusetts Financial Services Co. MA Lowers Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Massachusetts Financial Services Co. MA lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,692,269 shares of the energy exploration company’s stock after selling 78,039 shares during the period. Massachusetts Financial Services Co. MA’s holdings in EOG Resources were worth $699,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EOG. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in EOG Resources during the second quarter worth about $106,990,000. Legal & General Group Plc grew its position in EOG Resources by 9.1% in the second 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 in the last quarter. National Bank of Canada FI increased its position 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 purchasing an additional 343,527 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of EOG Resources by 67.3% during the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock worth $107,856,000 after acquiring an additional 339,480 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after purchasing an additional 333,947 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the subject of several analyst reports. UBS Group cut their price target 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. KeyCorp lowered their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Raymond James raised their price target on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday. Piper Sandler downgraded shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $147.00 to $149.00 in a research note on Monday. Finally, Morgan Stanley reduced 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. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.00.

Insider Activity

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Trading Down 0.7 %

NYSE EOG opened at $135.32 on Friday. The stock’s fifty day moving average price is $127.61 and its 200-day moving average price is $126.16. 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 stock has a market cap of $76.11 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.58 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.

EOG Resources Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.88%. EOG Resources’s payout ratio is 31.40%.

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

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.