Boston Family Office LLC Reduces Position in EOG Resources, Inc. (NYSE:EOG)

Boston Family Office LLC decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 75,788 shares of the energy exploration company’s stock after selling 385 shares during the period. Boston Family Office LLC’s holdings in EOG Resources were worth $9,317,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the 3rd quarter valued at $26,000. Riverview Trust Co purchased a new stake in EOG Resources during the second quarter valued at $27,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the second quarter valued at about $28,000. Eastern Bank purchased a new position in EOG Resources in the third quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new stake in shares of EOG Resources during the 2nd quarter valued at about $30,000. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EOG. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. UBS Group decreased their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley cut their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. KeyCorp decreased their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Raymond James boosted their price objective on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus target price of $144.00.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

EOG Resources Price Performance

NYSE:EOG opened at $136.35 on Monday. The company has a market capitalization of $76.69 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.62 and a beta of 1.28. The business’s 50-day moving average is $127.95 and its 200 day moving average is $126.15. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change 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 2.86%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its board has authorized a stock buyback plan 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 plans are generally a sign that the company’s board believes its stock is undervalued.

EOG Resources Company 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.