EOG Resources, Inc. (NYSE:EOG) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,610 shares of the energy exploration company’s stock after selling 955 shares during the period. Pitcairn Co.’s holdings in EOG Resources were worth $567,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOG. Wells Fargo & Company lifted their price target on shares of EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Susquehanna dropped 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 report on Wednesday, September 4th. Evercore ISI reduced their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Raymond James boosted their price objective on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, KeyCorp reduced their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus price target of $144.00.

EOG Resources Trading Down 3.2 %

EOG Resources stock opened at $131.98 on Tuesday. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. 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 firm has a market capitalization of $74.23 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 3.62 and a beta of 1.28. The firm has a 50-day moving average price of $128.16 and a two-hundred day moving average price of $126.16.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.95%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

About EOG Resources

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.