Quantbot Technologies LP Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Quantbot Technologies LP purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,735 shares of the energy exploration company’s stock, valued at approximately $1,443,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in EOG Resources during the 3rd quarter worth approximately $26,000. Riverview Trust Co acquired a new position in EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources during the 2nd quarter worth approximately $28,000. Eastern Bank acquired a new position 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 $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Scotiabank lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen investment 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 company presently has an average rating of “Hold” and a consensus price target of $144.20.

Insider Activity

In other 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 transaction, the director now 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $133.28 on Friday. The company has a 50-day simple moving average of $128.82 and a 200-day simple moving average of $126.30. 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 company has a market capitalization of $74.96 billion, a PE ratio of 10.73, a P/E/G ratio of 3.54 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.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 2.93%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources announced that its Board of Directors has approved a share buyback plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.