EOG Resources, Inc. (NYSE:EOG) Shares Sold by ING Groep NV

ING Groep NV decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 35.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 76,045 shares of the energy exploration company’s stock after selling 41,789 shares during the quarter. ING Groep NV’s holdings in EOG Resources were worth $9,348,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. UniSuper Management Pty Ltd boosted its position in shares of EOG Resources by 228.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock valued at $1,998,000 after purchasing an additional 10,868 shares during the period. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of EOG Resources by 3,976.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of EOG Resources by 23.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock worth $3,209,000 after acquiring an additional 4,749 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock valued at $1,303,000 after acquiring an additional 3,251 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of EOG Resources by 67.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after acquiring an additional 339,480 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on EOG shares. Evercore ISI cut their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company reduced their price objective on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Susquehanna reduced their price target 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. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $142.20.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

EOG Resources Stock Performance

NYSE:EOG opened at $135.19 on Friday. The firm’s 50-day moving average is $125.70 and its 200-day moving average is $125.98. The company has a market cap of $76.04 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

EOG Resources declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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.