Public Sector Pension Investment Board Cuts Holdings in EOG Resources, Inc. (NYSE:EOG)

Public Sector Pension Investment Board trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,267 shares of the energy exploration company’s stock after selling 780 shares during the quarter. Public Sector Pension Investment Board’s holdings in EOG Resources were worth $12,203,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the third quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of EOG Resources in the second quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources in the second quarter worth about $28,000. Eastern Bank bought a new stake in shares of EOG Resources in the third quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new stake in shares of EOG Resources in the second quarter worth about $30,000. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EOG has been the subject of several recent research reports. Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company lifted their price target 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. Evercore ISI dropped their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Raymond James lifted their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler lowered EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $147.00 to $149.00 in a research report on Monday, November 18th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $144.20.

EOG Resources Stock Performance

Shares of EOG stock opened at $133.09 on Friday. The business’s fifty day simple moving average is $128.67 and its 200-day simple moving average is $126.27. The company has a market cap of $74.86 billion, a PE ratio of 10.72, a PEG ratio of 3.51 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 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.