Massachusetts Financial Services Co. MA Sells 78,039 Shares of EOG Resources, Inc. (NYSE:EOG)

Massachusetts Financial Services Co. MA lessened its stake in EOG Resources, Inc. (NYSE:EOG) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,692,269 shares of the energy exploration company’s stock after selling 78,039 shares during the period. Massachusetts Financial Services Co. MA owned about 1.00% of EOG Resources worth $699,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cape ANN Savings Bank increased its position in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after purchasing an additional 79 shares during the period. CVA Family Office LLC raised its stake in EOG Resources by 11.0% during the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after buying an additional 81 shares during the last quarter. Bailard Inc. lifted its holdings in EOG Resources by 0.4% in the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares during the period. Everpar Advisors LLC boosted its position in EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. grew its holdings in EOG Resources by 0.7% during the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

EOG Resources Trading Down 0.7 %

NYSE:EOG opened at $135.32 on Friday. The firm has a market cap of $76.11 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a 50-day moving average price of $127.61 and a two-hundred day moving average price of $126.16. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources announced that its board has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 31.40%.

Analyst Ratings Changes

Several brokerages recently commented on EOG. Wells Fargo & Company upped their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley decreased their price target on shares of 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. Finally, StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $144.00.

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.