Brooklyn Investment Group Raises Stake in EOG Resources, Inc. (NYSE:EOG)

27 Nov 2024, 07:30 by Amy Steele · The Cerbat Gem

Brooklyn Investment Group grew its stake in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,283 shares of the energy exploration company’s stock after purchasing an additional 347 shares during the period. Brooklyn Investment Group’s holdings in EOG Resources were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 0.4% during 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 in the last quarter. Ameriprise Financial Inc. boosted its position in shares of EOG Resources by 2.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares in the last quarter. Legal & General Group Plc boosted 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 purchasing an additional 403,676 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of EOG Resources by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock worth $563,070,000 after purchasing an additional 258,732 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of EOG Resources by 3.2% during the 3rd quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company’s stock worth $523,024,000 after purchasing an additional 130,822 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.4 %

EOG opened at $132.54 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $74.55 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28. The business has a 50-day moving average of $128.34 and a two-hundred day moving average of $126.18. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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 issued a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.94%. EOG Resources’s payout ratio is 29.31%.

Insider Buying and Selling at EOG Resources

In other 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 transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. UBS Group cut their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Susquehanna cut their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Fifteen 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $144.20.

Read Our Latest Research Report on EOG Resources

About EOG Resources

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