Fortem Financial Group LLC Decreases Stake in EOG Resources, Inc. (NYSE:EOG)

Fortem Financial Group LLC lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,070 shares of the energy exploration company’s stock after selling 308 shares during the period. Fortem Financial Group LLC’s holdings in EOG Resources were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in EOG. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the 3rd quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new stake in EOG Resources in the second quarter valued at $28,000. Eastern Bank purchased a new position in EOG Resources during the 3rd quarter worth approximately $28,000. Gladius Capital Management LP purchased a new stake in EOG Resources in the 2nd quarter valued at $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EOG Resources during the third quarter worth about $31,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EOG. UBS Group dropped their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna dropped their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley decreased their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Scotiabank cut their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Fifteen equities research 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 company. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average price target of $144.20.

Insider Activity at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

EOG Resources Price Performance

EOG stock opened at $126.62 on Wednesday. The firm has a market cap of $71.21 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.40 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 fifty day simple moving average is $129.46 and its 200 day simple moving average is $126.34. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 3.08%. 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 is presently 29.31%.

EOG Resources announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.