Fifth Third Wealth Advisors LLC Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Fifth Third Wealth Advisors LLC trimmed its stake in EOG Resources, Inc. (NYSE:EOG) by 5.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,309 shares of the energy exploration company’s stock after selling 374 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in EOG Resources were worth $776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prospera Financial Services Inc boosted its stake in EOG Resources by 62.2% in the third quarter. Prospera Financial Services Inc now owns 11,313 shares of the energy exploration company’s stock valued at $1,391,000 after acquiring an additional 4,338 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after purchasing an additional 862 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of EOG Resources by 3.7% in the 3rd quarter. Pathstone Holdings LLC now owns 71,816 shares of the energy exploration company’s stock valued at $8,828,000 after purchasing an additional 2,583 shares during the period. Quest Partners LLC acquired a new stake in shares of EOG Resources in the 3rd quarter valued at about $762,000. Finally, Thrivent Financial for Lutherans grew its stake in EOG Resources by 3.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 250,850 shares of the energy exploration company’s stock worth $30,837,000 after buying an additional 7,902 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EOG shares. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. KeyCorp lowered their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI reduced their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Wells Fargo & Company lowered their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $142.30.

EOG Resources Stock Performance

Shares of EOG opened at $135.19 on Wednesday. The company has a market capitalization of $76.04 billion, a PE ratio of 10.88, a P/E/G 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 company has a 50-day simple moving average of $126.90 and a 200-day simple moving average of $126.03. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The business also recently declared 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 2.88%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

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

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on 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 directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.