MetLife Investment Management LLC Has $18.19 Million Position in EOG Resources, Inc. (NYSE:EOG)

MetLife Investment Management LLC decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 147,968 shares of the energy exploration company’s stock after selling 5,335 shares during the period. MetLife Investment Management LLC’s holdings in EOG Resources were worth $18,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new stake in EOG Resources in the 3rd quarter valued at $26,000. Riverview Trust Co bought a new position in shares of EOG Resources during the second quarter valued at $27,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources during the second quarter valued at $28,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the 2nd quarter worth about $30,000. 89.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EOG shares. KeyCorp reduced their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI reduced their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Morgan Stanley reduced their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank decreased their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $144.20.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

EOG Resources Price Performance

Shares of EOG stock opened at $133.07 on Thursday. The firm’s 50 day moving average price is $128.52 and its two-hundred day moving average price is $126.22. The stock has a market cap of $74.85 billion, a PE ratio of 10.71, a PEG ratio of 3.51 and a beta of 1.28. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a boost 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 2.93%. EOG Resources’s payout ratio is 29.31%.

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

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.