EOG Resources, Inc. (NYSE:EOG) Stake Reduced by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 15.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 44,140 shares of the energy exploration company’s stock after selling 8,040 shares during the period. Meeder Asset Management Inc.’s holdings in EOG Resources were worth $5,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Davis R M Inc. bought a new position in shares of EOG Resources in the first quarter worth $201,000. UniSuper Management Pty Ltd grew its stake in shares of EOG Resources by 228.4% in the first quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock worth $1,998,000 after purchasing an additional 10,868 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of EOG Resources by 66.9% in the first quarter. Lake Street Advisors Group LLC now owns 2,896 shares of the energy exploration company’s stock worth $370,000 after purchasing an additional 1,161 shares in the last quarter. Pitcairn Co. grew its stake in shares of EOG Resources by 12.0% in the first quarter. Pitcairn Co. now owns 4,903 shares of the energy exploration company’s stock worth $627,000 after purchasing an additional 526 shares in the last quarter. Finally, InterOcean Capital Group LLC grew its stake in shares of EOG Resources by 10.0% in the first quarter. InterOcean Capital Group LLC now owns 5,006 shares of the energy exploration company’s stock worth $640,000 after purchasing an additional 454 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Up 1.5 %

Shares of EOG Resources stock opened at $136.54 on Tuesday. The stock has a 50-day moving average price of $126.57 and a 200 day moving average price of $125.99. The company has a market cap of $76.80 billion, a P/E ratio of 10.99, a P/E/G ratio of 3.57 and a beta of 1.28. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources declared that its Board of Directors has authorized 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is 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 paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

Insider Buying and Selling

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 9.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’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 directly owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial increased their price target on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Scotiabank cut their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a report on Monday, October 14th. Finally, KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average price target of $142.30.

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.