Nexus Investment Management ULC Has $24.10 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Nexus Investment Management ULC reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,598 shares of the energy exploration company’s stock after selling 1,900 shares during the quarter. EOG Resources comprises 2.4% of Nexus Investment Management ULC’s holdings, making the stock its 21st biggest position. Nexus Investment Management ULC’s holdings in EOG Resources were worth $24,099,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EOG. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares during the last quarter. Geode Capital Management LLC lifted its stake in EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after buying an additional 180,755 shares during the period. Ameriprise Financial Inc. boosted its holdings in EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after buying an additional 260,727 shares during the last quarter. Franklin Resources Inc. boosted its holdings in EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after buying an additional 403,676 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $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. Company insiders own 0.20% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $136.70 on Friday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company’s fifty day simple moving average is $128.96 and its 200-day simple moving average is $127.06. The firm has a market cap of $76.89 billion, a PE ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29. 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 announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. 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 2.85%. EOG Resources’s payout ratio is 29.31%.

Wall Street Analyst Weigh In

EOG has been the topic of a number of analyst reports. Raymond James increased their price target on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Piper Sandler cut their target price on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday, January 6th. Truist Financial upped their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $143.48.

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.