Commerce Bank Acquires 1,515 Shares of EOG Resources, Inc. (NYSE:EOG)

Commerce Bank boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,768 shares of the energy exploration company’s stock after purchasing an additional 1,515 shares during the period. Commerce Bank’s holdings in EOG Resources were worth $11,404,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EOG Resources during the 2nd quarter valued at about $106,990,000. Legal & General Group Plc increased its stake in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after buying an additional 403,676 shares during the period. National Bank of Canada FI raised its holdings in EOG Resources by 237.9% during the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after buying an additional 343,527 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in EOG Resources by 67.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after buying an additional 339,480 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in EOG Resources by 42.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock worth $136,874,000 after acquiring an additional 333,947 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Scotiabank dropped 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. Barclays cut their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Wells Fargo & Company dropped their target price on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $142.30.

Insider Buying and Selling

In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’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 transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated 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 directly 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 position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

EOG Resources Price Performance

Shares of EOG opened at $136.23 on Thursday. The firm has a market cap of $76.62 billion, a PE ratio of 10.97, a P/E/G ratio of 3.57 and a beta of 1.28. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $127.27 and a two-hundred day simple moving average of $126.10.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend 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 is Friday, January 17th. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.