EOG Resources, Inc. $EOG Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in EOG Resources, Inc. (NYSE:EOG) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 532,190 shares of the energy exploration company’s stock after selling 81,410 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of EOG Resources worth $73,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of EOG Resources in the 2nd quarter valued at about $5,905,587,000. Bank of New York Mellon Corp bought a new position in EOG Resources during the second quarter worth about $654,899,000. Bank of America Corp DE bought a new position in EOG Resources during the second quarter worth about $551,321,000. Deutsche Bank AG acquired a new position in EOG Resources during the second quarter worth approximately $251,102,000. Finally, Robeco Institutional Asset Management B.V. increased its position in EOG Resources by 357.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company’s stock worth $271,641,000 after buying an additional 1,541,140 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey Leitzell sold 9,039 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the transaction, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. This represents a 9.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,317 shares of company stock worth $7,823,480 in the last ninety days. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Freedom Capital cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating and set a $185.00 target price on shares of EOG Resources in a report on Saturday, October 3rd. Wells Fargo & Company restated an “overweight” rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Zacks Research upgraded EOG Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Finally, Truist Financial set a $166.00 price target on EOG Resources and gave the company a “hold” rating in a report on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $162.84.

EOG Resources Stock Performance

EOG Resources stock traded up $2.63 during trading hours on Friday, hitting $158.25. The company had a trading volume of 3,240,241 shares, compared to its average volume of 3,273,360. The firm has a 50-day moving average of $150.04 and a 200 day moving average of $138.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.90 and a quick ratio of 1.74. The firm has a market cap of $82.05 billion, a PE ratio of 10.22, a PEG ratio of 0.53 and a beta of 0.27. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $165.93.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The business’s revenue was up 46.2% on a year-over-year basis. On average, sell-side analysts expect that EOG Resources, Inc. will post 18.22 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, January 15th. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s payout ratio is 28.42%.

About EOG Resources

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.