Empowered Funds LLC Raises Holdings in EOG Resources, Inc. (NYSE:EOG)

Empowered Funds LLC lifted its holdings in EOG Resources, Inc. (NYSE:EOG) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,538 shares of the energy exploration company’s stock after buying an additional 7,419 shares during the quarter. EOG Resources accounts for 0.5% of Empowered Funds LLC’s portfolio, making the stock its 19th biggest holding. Empowered Funds LLC’s holdings in EOG Resources were worth $34,118,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EOG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in EOG Resources by 23.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock worth $3,209,000 after acquiring an additional 4,749 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings 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 worth $412,000 after purchasing an additional 200 shares during the last quarter. 1ST Source Bank grew its position in shares of EOG Resources by 3.2% in the first quarter. 1ST Source Bank now owns 5,269 shares of the energy exploration company’s stock valued at $674,000 after purchasing an additional 165 shares during the period. Nicolet Advisory Services LLC increased its stake in 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 valued at $630,000 after purchasing an additional 373 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in EOG Resources by 68.3% during the first quarter. Intech Investment Management LLC now owns 49,552 shares of the energy exploration company’s stock worth $6,335,000 after buying an additional 20,105 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several research analyst reports. Barclays decreased their target price on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Susquehanna dropped their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company dropped their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Finally, Wolfe Research started coverage on shares of EOG Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $142.20.

EOG Resources Trading Up 0.2 %

Shares of EOG Resources stock opened at $135.45 on Friday. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The stock has a market cap of $76.18 billion, a P/E ratio of 10.88, a P/E/G ratio of 3.56 and a beta of 1.28. The business’s 50 day moving average is $125.70 and its 200-day moving average is $125.98. 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 stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently declared 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. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

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.