EOG Resources, Inc. (NYSE:EOG) Position Cut by MML Investors Services LLC

MML Investors Services LLC lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 26.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,708 shares of the energy exploration company’s stock after selling 13,701 shares during the period. MML Investors Services LLC’s holdings in EOG Resources were worth $4,758,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources during the third quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the 2nd quarter valued at about $28,000. Eastern Bank acquired a new position in EOG Resources during the 3rd quarter valued at about $28,000. Gladius Capital Management LP bought a new stake in shares of EOG Resources during the 2nd quarter worth about $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $126.78 on Friday. The company’s fifty day moving average is $129.23 and its two-hundred day moving average is $126.40. The company has a market cap of $71.31 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-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 declared that its board has authorized a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.08%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is presently 29.31%.

Analyst Ratings Changes

A number of research analysts recently commented on EOG shares. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $147.00 to $149.00 in a research note on Monday, November 18th. Citigroup raised their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, 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 report on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.20.

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.