EOG Resources, Inc. (NYSE:EOG) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 61.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 812,432 shares of the energy exploration company’s stock after purchasing an additional 309,096 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.14% of EOG Resources worth $99,872,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter valued at $26,000. Riverview Trust Co bought a new stake in EOG Resources during the 2nd quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources during the 2nd quarter valued at $28,000. Eastern Bank bought a new stake in EOG Resources during the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP bought a new stake in EOG Resources during the 2nd quarter valued at $30,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $132.54 on Wednesday. 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 company has a market capitalization of $74.55 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 3.62 and a beta of 1.28. The stock’s fifty day simple moving average is $128.34 and its 200-day simple moving average is $126.18.

EOG Resources declared that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared 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. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.94%. EOG Resources’s payout ratio is currently 31.40%.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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 in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EOG. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Morgan Stanley dropped their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company boosted their price objective on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.20.

EOG Resources 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.