Audent Global Asset Management LLC Sells 4,619 Shares of EOG Resources, Inc. (NYSE:EOG)

Audent Global Asset Management LLC reduced its holdings in EOG Resources, Inc. (NYSE:EOG) by 65.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,397 shares of the energy exploration company’s stock after selling 4,619 shares during the period. Audent Global Asset Management LLC’s holdings in EOG Resources were worth $295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources in the 3rd quarter worth $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources in the 2nd quarter worth $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources in the 2nd quarter worth $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources during the 2nd quarter worth about $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Up 0.1 %

NYSE:EOG opened at $133.26 on Monday. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. 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 market cap of $74.95 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.54 and a beta of 1.28. The firm has a 50-day simple moving average of $128.82 and a 200-day simple moving average of $126.26.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 29.31%.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI dropped 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. Truist Financial lifted their price target on shares of EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Barclays decreased their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $144.20.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the business’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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by company insiders.

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.