Campbell Newman Asset Management Inc. Sells 12,663 Shares of EOG Resources, Inc. (NYSE:EOG)

Campbell Newman Asset Management Inc. trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,434 shares of the energy exploration company’s stock after selling 12,663 shares during the quarter. EOG Resources makes up approximately 1.5% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. Campbell Newman Asset Management Inc.’s holdings in EOG Resources were worth $18,685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Insight Inv LLC raised its holdings in shares of EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after acquiring an additional 75 shares in the last quarter. Cape ANN Savings Bank lifted its holdings in shares of 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 worth $1,067,000 after acquiring an additional 79 shares during the last quarter. Everpar Advisors LLC raised its holdings in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after buying an additional 83 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in EOG Resources by 3.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock worth $358,000 after purchasing an additional 84 shares during the last quarter. Finally, FSM Wealth Advisors LLC lifted its stake in shares of EOG Resources by 5.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,702 shares of the energy exploration company’s stock valued at $209,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In related news, 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 value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $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. Company insiders own 0.30% of the company’s stock.

EOG Resources Trading Up 0.1 %

Shares of EOG stock traded up $0.12 during mid-day trading on Wednesday, reaching $135.89. The company’s stock had a trading volume of 110,836 shares, compared to its average volume of 3,128,729. The firm has a market capitalization of $76.43 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company’s 50 day simple moving average is $128.48 and its 200-day simple moving average is $126.84. 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 announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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 issued a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EOG shares. Barclays dropped 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 report on Thursday, October 3rd. Mizuho decreased their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday. Citigroup lifted their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI cut their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus target price of $143.48.

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.