EOG Resources, Inc. (NYSE:EOG) Stake Reduced by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,968 shares of the energy exploration company’s stock after selling 5,335 shares during the quarter. MetLife Investment Management LLC’s holdings in EOG Resources were worth $18,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in shares of EOG Resources during the third quarter valued at $26,000. Riverview Trust Co purchased a new stake in EOG Resources during the second quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources in the second quarter worth about $28,000. Eastern Bank purchased a new position in shares of EOG Resources in the third quarter worth approximately $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the second quarter valued at approximately $30,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $133.07 on Thursday. The firm has a market capitalization of $74.85 billion, a PE ratio of 10.71, a PEG ratio of 3.51 and a beta of 1.28. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $128.52 and its 200 day simple moving average is $126.22.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.93%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources declared that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group reduced their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial upped their price objective 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. Morgan Stanley decreased their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Susquehanna dropped their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $144.20.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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.