Nexus Investment Management ULC Sells 1,900 Shares of EOG Resources, Inc. (NYSE:EOG)

Nexus Investment Management ULC decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 196,598 shares of the energy exploration company’s stock after selling 1,900 shares during the period. EOG Resources makes up approximately 2.4% of Nexus Investment Management ULC’s holdings, making the stock its 21st largest holding. Nexus Investment Management ULC’s holdings in EOG Resources were worth $24,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Insight Inv LLC lifted its stake in shares of EOG Resources by 0.8% during the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after buying an additional 75 shares during the last quarter. Cape ANN Savings Bank grew its stake in EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares during the last quarter. Everpar Advisors LLC lifted its position in EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after acquiring an additional 83 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of EOG Resources by 3.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock worth $358,000 after acquiring an additional 84 shares during the period. Finally, FSM Wealth Advisors LLC boosted its holdings in shares of EOG Resources by 5.5% during the third quarter. FSM Wealth Advisors LLC now owns 1,702 shares of the energy exploration company’s stock worth $209,000 after acquiring an additional 88 shares during the period. 89.91% of the stock is owned by institutional investors.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

EOG Resources Stock Performance

NYSE:EOG opened at $136.70 on Friday. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. 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 stock’s 50-day simple moving average is $128.96 and its 200 day simple moving average is $127.06. The firm has a market capitalization of $76.89 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29.

EOG Resources announced that its board has approved a stock repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

Analyst Upgrades and Downgrades

EOG has been the subject of several research reports. Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. KeyCorp reduced their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Bank of America reissued a “neutral” rating and issued a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Thirteen 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’s stock. According to MarketBeat.com, EOG Resources has a consensus rating of “Hold” and an average price target of $143.48.

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.