Natixis Advisors LLC Purchases 61,194 Shares of EOG Resources, Inc. (NYSE:EOG)

Natixis Advisors LLC boosted its position in EOG Resources, Inc. (NYSE:EOG) by 16.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 441,008 shares of the energy exploration company’s stock after purchasing an additional 61,194 shares during the quarter. Natixis Advisors LLC’s holdings in EOG Resources were worth $54,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EOG. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the third quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources during the second quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the second quarter worth about $28,000. Eastern Bank bought a new position in shares of EOG Resources in the third quarter worth approximately $28,000. Finally, Gladius Capital Management LP bought a new stake in EOG Resources during the second quarter valued at approximately $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 9.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EOG. Piper Sandler decreased their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Morgan Stanley reduced their target price 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 dropped their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Finally, Wells Fargo & Company dropped their target price on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $142.20.

EOG Resources Stock Performance

Shares of EOG stock opened at $134.56 on Friday. The firm has a market capitalization of $75.68 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 3.56 and a beta of 1.28. The stock has a fifty day moving average of $126.25 and a 200 day moving average of $125.99. 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 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

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

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 given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

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.