Dean Investment Associates LLC Buys 7,526 Shares of EOG Resources, Inc. (NYSE:EOG)

Dean Investment Associates LLC grew its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 13.8% in the third quarter, Holdings Channel reports. The institutional investor owned 62,060 shares of the energy exploration company’s stock after purchasing an additional 7,526 shares during the period. EOG Resources accounts for approximately 1.0% of Dean Investment Associates LLC’s holdings, making the stock its 13th biggest position. Dean Investment Associates LLC’s holdings in EOG Resources were worth $7,629,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Orion Portfolio Solutions LLC lifted its stake in shares of EOG Resources by 2.6% in the third quarter. Orion Portfolio Solutions LLC now owns 30,567 shares of the energy exploration company’s stock valued at $3,758,000 after buying an additional 779 shares during the period. DF Dent & Co. Inc. lifted its stake in shares of EOG Resources by 1.4% in the third quarter. DF Dent & Co. Inc. now owns 6,659 shares of the energy exploration company’s stock valued at $819,000 after buying an additional 95 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of EOG Resources by 179.5% in the third quarter. EP Wealth Advisors LLC now owns 17,737 shares of the energy exploration company’s stock valued at $2,180,000 after buying an additional 11,391 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of EOG Resources by 4.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 199,626 shares of the energy exploration company’s stock valued at $23,518,000 after buying an additional 8,825 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of EOG Resources in the third quarter valued at about $9,006,000. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EOG. Truist Financial increased their target price on shares of EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Evercore ISI dropped their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Susquehanna dropped their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Piper Sandler lowered shares of EOG Resources from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $147.00 to $149.00 in a research report on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $144.20.

EOG Resources Trading Down 1.7 %

Shares of EOG opened at $127.81 on Friday. 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, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a market capitalization of $71.89 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 3.44 and a beta of 1.29. The stock’s fifty day simple moving average is $129.37 and its 200-day simple moving average is $126.31.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources announced that its board has approved a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in 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 typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related 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 completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by 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.