3Chopt Investment Partners LLC Cuts Stock Position in EOG Resources, Inc. (NYSE:EOG)

3Chopt Investment Partners LLC trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,907 shares of the energy exploration company’s stock after selling 1,816 shares during the period. 3Chopt Investment Partners LLC’s holdings in EOG Resources were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after buying an additional 75,194 shares during the period. Ameriprise Financial Inc. boosted its holdings in EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after acquiring an additional 260,727 shares during the period. Legal & General Group Plc grew its position 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 in the last quarter. Dimensional Fund Advisors LP grew its position in EOG Resources by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock valued at $563,070,000 after acquiring an additional 258,732 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of EOG Resources by 3.2% during the third quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company’s stock worth $523,024,000 after purchasing an additional 130,822 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $127.86 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $129.46 and its two-hundred day moving average price is $126.34. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The stock has a market capitalization of $71.91 billion, a P/E ratio of 10.29, a P/E/G ratio of 3.40 and a beta of 1.29.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This is an increase 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 dividend yield of 3.05%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EOG shares. UBS Group lowered 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. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Evercore ISI lowered their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $147.00 to $149.00 in a report on Monday, November 18th. Fifteen investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $144.20.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% 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.