American Trust Sells 6,728 Shares of EOG Resources, Inc. (NYSE:EOG)

American Trust lowered its position in EOG Resources, Inc. (NYSE:EOG) by 19.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,769 shares of the energy exploration company’s stock after selling 6,728 shares during the period. American Trust’s holdings in EOG Resources were worth $3,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EOG. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources during the third quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the second quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of EOG Resources during the third quarter valued at approximately $28,000. Gladius Capital Management LP bought a new position in EOG Resources in the second quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP bought a new stake in EOG Resources during the 3rd quarter valued at $31,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value 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. This represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EOG. Susquehanna decreased their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Evercore ISI cut their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Barclays reduced their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $144.20.

EOG Resources Stock Down 0.8 %

EOG stock opened at $126.60 on Friday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The firm has a 50-day simple moving average of $129.36 and a 200-day simple moving average of $126.37. 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 stock has a market capitalization of $71.21 billion, a P/E ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.29.

EOG Resources announced that its Board of Directors has initiated a stock 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are 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 issued a $0.975 dividend. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 3.08%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

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.