Bridgewater Associates LP Grows Holdings in EOG Resources, Inc. (NYSE:EOG)

Bridgewater Associates LP raised its stake in EOG Resources, Inc. (NYSE:EOG) by 1,003.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 343,160 shares of the energy exploration company’s stock after purchasing an additional 312,064 shares during the quarter. Bridgewater Associates LP’s holdings in EOG Resources were worth $42,185,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. DRW Securities LLC raised its position in EOG Resources by 98.6% during the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares in the last quarter. Caprock Group LLC raised its holdings in shares of EOG Resources by 7.7% during the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares during the last quarter. KBC Group NV boosted its stake in EOG Resources by 11.4% in the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after acquiring an additional 3,251 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 0.4 %

NYSE EOG opened at $132.54 on Wednesday. The firm has a market capitalization of $74.55 billion, a PE ratio of 10.67, a P/E/G ratio of 3.51 and a beta of 1.28. The stock’s 50 day moving average is $128.34 and its 200 day moving average is $126.18. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.975 dividend. The ex-dividend date 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 2.94%. EOG Resources’s dividend payout ratio is currently 29.31%.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI reduced their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company lifted their price objective on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Scotiabank reduced their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler downgraded 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. Finally, Raymond James lifted their target price on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. 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 stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus price target of $144.20.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources 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 completion of the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

EOG Resources Company 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.