Los Angeles Capital Management LLC Has $2.72 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Los Angeles Capital Management LLC lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 86.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 22,101 shares of the energy exploration company’s stock after selling 139,235 shares during the period. Los Angeles Capital Management LLC’s holdings in EOG Resources were worth $2,717,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital World Investors raised its position in EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after purchasing an additional 1,361,538 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of EOG Resources during the second quarter worth about $106,990,000. Capital International Investors lifted its stake in shares of EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after acquiring an additional 766,056 shares during the period. Legal & General Group Plc boosted its holdings 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 valued at $609,300,000 after acquiring an additional 403,676 shares during the last quarter. Finally, Capital Research Global Investors increased its position in EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after purchasing an additional 373,365 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 of the company’s stock, valued at $9,615,375. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EOG shares. UBS Group decreased their price objective 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. Scotiabank decreased their price target 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. Morgan Stanley dropped their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. KeyCorp decreased their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Piper Sandler dropped their price target on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus target price of $142.20.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $133.10 on Wednesday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $125.28 and a 200-day moving average price of $125.94. The company has a market cap of $75.68 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28.

EOG Resources declared that its board has authorized a stock buyback program 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

EOG Resources Increases Dividend

The company 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 a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is currently 29.31%.

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.