Norway Savings Bank Purchases 410 Shares of EOG Resources, Inc. (NYSE:EOG)

Norway Savings Bank boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,373 shares of the energy exploration company’s stock after buying an additional 410 shares during the period. Norway Savings Bank’s holdings in EOG Resources were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources in the third quarter worth approximately $26,000. Eastern Bank purchased a new stake in EOG Resources during the third quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources during the third quarter worth about $31,000. HM Payson & Co. boosted its holdings in shares of EOG Resources by 203.7% in 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, Matrix Trust Co bought a new position in shares of EOG Resources during the 3rd quarter valued at about $43,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EOG has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Evercore ISI lowered their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Citigroup raised their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group dropped their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Barclays decreased their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $143.71.

EOG Resources Stock Up 1.0 %

Shares of NYSE EOG traded up $1.23 during mid-day trading on Tuesday, hitting $127.62. 1,631,725 shares of the stock traded hands, compared to its average volume of 2,539,532. 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 stock has a fifty day moving average price of $127.33 and a 200-day moving average price of $126.57. The company has a market cap of $71.78 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.06%. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

EOG Resources announced that its board has approved 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 reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction 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 completion of the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % 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.

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.