New England Asset Management Inc. Decreases Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

New England Asset Management Inc. reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,715 shares of the energy exploration company’s stock after selling 2,985 shares during the quarter. New England Asset Management Inc.’s holdings in EOG Resources were worth $1,440,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts recently commented on EOG shares. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research report on Monday, October 14th. Wells Fargo & Company lowered their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus target price of $142.30.

EOG Resources Price Performance

EOG Resources stock opened at $136.54 on Tuesday. The stock has a market capitalization of $76.80 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 3.57 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 stock’s 50 day moving average price is $126.57 and its two-hundred day moving average price is $125.99. 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 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 represents a $3.90 dividend on an annualized basis and a dividend yield of 2.86%. 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 presently 31.40%.

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

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% 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.