Assenagon Asset Management S.A. Purchases 593,823 Shares of EOG Resources, Inc. (NYSE:EOG)

Assenagon Asset Management S.A. lifted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 577.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 696,596 shares of the energy exploration company’s stock after buying an additional 593,823 shares during the quarter. Assenagon Asset Management S.A.’s holdings in EOG Resources were worth $85,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. DRW Securities LLC grew its holdings in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC grew its stake in shares of EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares in the last quarter. World Investment Advisors LLC bought a new position in EOG Resources during the third quarter worth about $730,000. University of Texas Texas AM Investment Management Co. raised its stake in EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after purchasing an additional 10,618 shares in the last quarter. Finally, KBC Group NV boosted its holdings in EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of analyst reports. Scotiabank dropped their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Piper Sandler reduced their target price on EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. UBS Group decreased their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Mizuho cut their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Thirteen equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $143.48.

EOG Resources Trading Up 1.0 %

Shares of EOG stock opened at $137.17 on Thursday. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock has a 50 day simple moving average of $128.48 and a two-hundred day simple moving average of $126.84. The company has a market cap of $77.15 billion, a P/E ratio of 11.04, a PEG ratio of 3.37 and a beta of 1.29.

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 paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.84%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 31.40%.

EOG Resources announced that its board has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in 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 management believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.