Empire Financial Management Company LLC Buys 333 Shares of EOG Resources, Inc. (NYSE:EOG)

Empire Financial Management Company LLC grew its stake in EOG Resources, Inc. (NYSE:EOG) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,384 shares of the energy exploration company’s stock after acquiring an additional 333 shares during the quarter. Empire Financial Management Company LLC’s holdings in EOG Resources were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the third quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in EOG Resources during the 2nd quarter worth approximately $28,000. Eastern Bank acquired a new stake in EOG Resources during the 3rd quarter worth approximately $28,000. Gladius Capital Management LP acquired a new position in shares of EOG Resources in the second quarter valued at approximately $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of EOG Resources during the third quarter worth $31,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EOG shares. Susquehanna reduced 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 note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Citigroup raised their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Scotiabank cut their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus target price of $144.20.

EOG Resources Stock Down 1.0 %

EOG stock opened at $126.62 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $129.46 and its 200 day simple moving average is $126.34. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The firm has a market capitalization of $71.21 billion, a PE ratio of 10.19, a PEG ratio of 3.40 and a beta of 1.29.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

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

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of the firm’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 transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This trade represents 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 this hyperlink. 0.20% of the stock is currently owned by insiders.

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.