Meritage Portfolio Management Has $8.97 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Meritage Portfolio Management trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,003 shares of the energy exploration company’s stock after selling 1,695 shares during the quarter. Meritage Portfolio Management’s holdings in EOG Resources were worth $8,974,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its stake in EOG Resources by 5.4% in 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 period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EOG Resources in the second quarter valued at $106,990,000. Capital International Investors grew its holdings in shares of EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after buying an additional 766,056 shares in the last quarter. Legal & General Group Plc raised its position in EOG Resources by 9.1% during 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 buying an additional 403,676 shares during the period. Finally, Capital Research Global Investors lifted its stake in EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after acquiring an additional 373,365 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

NYSE EOG traded up $7.66 during trading on Friday, hitting $134.12. The company’s stock had a trading volume of 5,335,478 shares, compared to its average volume of 2,360,372. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The firm has a market cap of $76.26 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 3.35 and a beta of 1.28. The firm has a 50 day moving average price of $125.19 and a 200 day moving average price of $126.08. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.91%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources declared that its Board of Directors has initiated a share buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on EOG. Sanford C. Bernstein lowered their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial dropped their price target on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. UBS Group lowered their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wolfe Research assumed coverage on EOG Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Susquehanna reduced their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and a consensus target price of $141.20.

Insider Transactions at EOG Resources

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

About EOG Resources

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.