Principal Financial Group Inc. Has $300.74 Million Position in EOG Resources, Inc. (NYSE:EOG)

08 Nov 2024, 07:07 by Doug Wharley · The Cerbat Gem

Principal Financial Group Inc. cut its holdings in EOG Resources, Inc. (NYSE:EOG – Free Report) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,446,441 shares of the energy exploration company’s stock after selling 14,101 shares during the quarter. Principal Financial Group Inc.’s holdings in EOG Resources were worth $300,741,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital World Investors raised its stake in shares of EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in EOG Resources in the 2nd quarter valued at approximately $106,990,000. Capital International Investors lifted its stake in EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after acquiring an additional 766,056 shares in the last quarter. Legal & General Group Plc boosted its position in 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 acquiring an additional 403,676 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after acquiring an additional 373,365 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

Shares of NYSE EOG opened at $126.46 on Friday. The firm has a market cap of $71.91 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. The business’s 50 day moving average is $125.15 and its 200-day moving average is $126.08. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed 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. 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 3.08%. EOG Resources’s dividend payout ratio (DPR) is presently 28.11%.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

EOG has been the subject of several recent research reports. Sanford C. Bernstein reduced their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley reduced their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Wolfe Research initiated coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.20.

Check Out Our Latest Report on EOG

About EOG Resources

(Free Report)