Bank of Montreal Can Sells 417,626 Shares of EOG Resources, Inc. (NYSE:EOG)

Bank of Montreal Can decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 36.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 733,694 shares of the energy exploration company’s stock after selling 417,626 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of EOG Resources worth $89,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EOG. Jacobs Levy Equity Management Inc. acquired a new stake in shares of EOG Resources in the first quarter valued at about $312,000. B. Riley Wealth Advisors Inc. lifted its position in shares of EOG Resources by 32.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,763 shares of the energy exploration company’s stock worth $1,871,000 after purchasing an additional 3,613 shares during the period. Tidal Investments LLC boosted its stake in shares of EOG Resources by 13.3% in the 1st quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock valued at $6,518,000 after purchasing an additional 5,972 shares during the last quarter. Hancock Whitney Corp acquired a new stake in EOG Resources during the 1st quarter worth about $208,000. Finally, iA Global Asset Management Inc. increased its holdings in EOG Resources by 13.8% in the first quarter. iA Global Asset Management Inc. now owns 82,063 shares of the energy exploration company’s stock worth $10,491,000 after purchasing an additional 9,948 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company upped their price target on EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. UBS Group reduced their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, KeyCorp cut their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $144.20.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

EOG Resources Trading Up 0.4 %

Shares of EOG opened at $132.54 on Wednesday. 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 company has a market capitalization of $74.55 billion, a P/E ratio of 10.67, a P/E/G ratio of 3.62 and a beta of 1.28. The firm’s 50 day simple moving average is $128.34 and its 200 day simple moving average is $126.18.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This is an increase 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 dividend on an annualized basis and a yield of 2.94%. EOG Resources’s payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has approved a share buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.