Navellier & Associates Inc. Decreases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Navellier & Associates Inc. decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 5.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,910 shares of the energy exploration company’s stock after selling 1,490 shares during the quarter. Navellier & Associates Inc.’s holdings in EOG Resources were worth $3,308,000 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 EOG. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the third quarter worth about $26,000. Riverview Trust Co purchased a new stake in shares of EOG Resources during the second quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 2nd quarter valued at about $28,000. Eastern Bank bought a new position in shares of EOG Resources during the 3rd quarter worth approximately $28,000. Finally, Gladius Capital Management LP purchased a new stake in EOG Resources during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $136.50 on Thursday. The firm has a market cap of $76.77 billion, a PE ratio of 10.97, a P/E/G ratio of 3.58 and a beta of 1.28. The business has a 50-day moving average price of $127.27 and a 200 day moving average price of $126.10. 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, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits 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 leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently declared 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 represents a $3.90 annualized dividend and a yield of 2.86%. 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 presently 29.31%.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on EOG shares. Evercore ISI decreased their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays lowered their target price 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. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Finally, UBS Group lowered their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Fifteen 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.90.

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.