Taurus Asset Management LLC Sells 56,050 Shares of EOG Resources, Inc. (NYSE:EOG)

Taurus Asset Management LLC trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG) by 41.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,205 shares of the energy exploration company’s stock after selling 56,050 shares during the period. Taurus Asset Management LLC’s holdings in EOG Resources were worth $9,737,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. UniSuper Management Pty Ltd raised its holdings in EOG Resources by 228.4% during the first quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock valued at $1,998,000 after acquiring an additional 10,868 shares during the period. University of Texas Texas AM Investment Management Co. raised its stake in EOG Resources by 3,976.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after purchasing an additional 10,618 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in EOG Resources by 44.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after purchasing an additional 3,251 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in EOG Resources by 67.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock worth $107,856,000 after purchasing an additional 339,480 shares during the period. Finally, Tidal Investments LLC boosted its stake in EOG Resources by 13.3% in the 1st quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock worth $6,518,000 after purchasing an additional 5,972 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $134.56 on Monday. The firm has a market capitalization of $75.68 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business’s fifty day moving average price is $126.25 and its 200 day moving average price is $125.96. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources declared that its board has approved a stock repurchase program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.90%. EOG Resources’s payout ratio is presently 31.40%.

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the company’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 owns 74,250 shares in the company, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group reduced their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. KeyCorp reduced their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Truist Financial increased their target price on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their price target on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $142.20.

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.