Bridgewater Associates LP Buys 312,064 Shares of EOG Resources, Inc. (NYSE:EOG)

Bridgewater Associates LP lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1,003.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,160 shares of the energy exploration company’s stock after buying an additional 312,064 shares during the period. Bridgewater Associates LP owned about 0.06% of EOG Resources worth $42,185,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EOG. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources in the 3rd quarter worth $26,000. Riverview Trust Co bought a new stake in EOG Resources in the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the 2nd quarter worth about $28,000. Eastern Bank bought a new position in shares of EOG Resources during the 3rd quarter worth approximately $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources in the 2nd quarter worth approximately $30,000. Institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EOG. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. UBS Group cut their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Piper Sandler lowered shares of 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 research report on Monday, November 18th. Finally, Susquehanna reduced their target price 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. 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’s stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $144.20.

EOG Resources Trading Up 0.4 %

Shares of EOG opened at $132.54 on Wednesday. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The stock has a market cap of $74.55 billion, a PE ratio of 10.67, a P/E/G ratio of 3.51 and a beta of 1.28. 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 business’s 50-day moving average price is $128.34 and its 200-day moving average price is $126.18.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date 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 authorized a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company’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 transaction, the director now owns 43,532 shares of the company’s stock, 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 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.