Hartford Funds Management Co LLC Buys 360 Shares of EOG Resources, Inc. (NYSE:EOG)

Hartford Funds Management Co LLC lifted its position in EOG Resources, Inc. (NYSE:EOG) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,384 shares of the energy exploration company’s stock after acquiring an additional 360 shares during the quarter. Hartford Funds Management Co LLC’s holdings in EOG Resources were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently 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. Riverview Trust Co bought a new position in shares of EOG Resources in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the second quarter valued at approximately $28,000. Eastern Bank bought a new stake in EOG Resources during the third quarter worth $28,000. Finally, Gladius Capital Management LP bought a new position in EOG Resources in the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $136.35 on Friday. The company’s 50 day simple moving average is $127.95 and its two-hundred day simple moving average is $126.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The stock has a market capitalization of $76.69 billion, a PE ratio of 10.98, a P/E/G ratio of 3.59 and a beta of 1.28.

EOG Resources announced that its board has authorized a share buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The firm 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 is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.86%. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction on 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 directly owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. KeyCorp dropped their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, StockNews.com lowered 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $144.00.

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.