Nordea Investment Management AB Has $5.12 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Nordea Investment Management AB decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 11.3% in the 4th quarter, Holdings Channel reports. The fund owned 41,910 shares of the energy exploration company’s stock after selling 5,352 shares during the quarter. Nordea Investment Management AB’s holdings in EOG Resources were worth $5,121,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EOG. Franklin Resources Inc. increased its position in shares of 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 acquiring an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EOG Resources during the second quarter worth $106,990,000. Legal & General Group Plc increased its position in shares of EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after acquiring an additional 333,947 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $131.54 on Friday. 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 company has a market capitalization of $73.98 billion, a P/E ratio of 10.59, a P/E/G ratio of 3.37 and a beta of 1.29. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a 50-day moving average price of $127.97 and a two-hundred day moving average price of $126.68.

EOG Resources declared that its Board of Directors has initiated a stock buyback 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 purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The company 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 represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, 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 currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EOG. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Finally, Raymond James boosted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.71.

EOG Resources Company 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.