Matrix Trust Co Boosts Holdings in EOG Resources, Inc. (NYSE:EOG)

Matrix Trust Co raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 700.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,778 shares of the energy exploration company’s stock after acquiring an additional 2,431 shares during the quarter. Matrix Trust Co’s holdings in EOG Resources were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in EOG Resources during the 3rd quarter valued at about $26,000. Eastern Bank purchased a new stake in shares of EOG Resources in the third quarter valued at $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources in the third quarter valued at $31,000. HM Payson & Co. increased its position in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in EOG Resources in the 3rd quarter valued at about $47,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EOG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price target on shares of EOG Resources in a research note on Monday, January 6th. Evercore ISI decreased their target price 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. Scotiabank cut their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Mizuho decreased their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $143.38.

EOG Resources Price Performance

EOG stock opened at $131.54 on Monday. The stock has a 50-day simple moving average of $127.97 and a 200-day simple moving average of $126.70. The firm has a market cap of $73.98 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. 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, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s payout ratio is presently 31.40%.

EOG Resources announced that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.