KBC Group NV Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

KBC Group NV grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,132 shares of the energy exploration company’s stock after buying an additional 12,210 shares during the quarter. KBC Group NV’s holdings in EOG Resources were worth $14,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in EOG Resources by 23.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock valued at $3,209,000 after buying an additional 4,749 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in shares of EOG Resources by 6.6% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,219 shares of the energy exploration company’s stock valued at $412,000 after buying an additional 200 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of EOG Resources by 8.8% in the first quarter. Nicolet Advisory Services LLC now owns 4,593 shares of the energy exploration company’s stock worth $630,000 after buying an additional 373 shares during the period. Intech Investment Management LLC boosted its holdings in EOG Resources by 68.3% during the 1st quarter. Intech Investment Management LLC now owns 49,552 shares of the energy exploration company’s stock valued at $6,335,000 after acquiring an additional 20,105 shares during the period. Finally, Cornerstone Advisors LLC grew its position in EOG Resources by 15.2% in the 1st quarter. Cornerstone Advisors LLC now owns 10,600 shares of the energy exploration company’s stock valued at $1,355,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial boosted 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. Piper Sandler lowered their price objective on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company lowered their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, Morgan Stanley reduced their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $142.20.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The trade was 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 insiders.

EOG Resources Stock Down 0.4 %

EOG Resources stock opened at $134.59 on Friday. The business has a fifty day moving average price of $125.97 and a 200-day moving average price of $126.04. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The stock has a market capitalization of $75.70 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 3.56 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.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

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

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.