Hobbs Group Advisors LLC Trims Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Hobbs Group Advisors LLC decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 21.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,493 shares of the energy exploration company’s stock after selling 695 shares during the period. Hobbs Group Advisors LLC’s holdings in EOG Resources were worth $306,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of EOG. Northwest Investment Counselors LLC purchased a new position in shares of EOG Resources in the third quarter worth about $26,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources in the second quarter valued at approximately $28,000. Eastern Bank bought a new position in shares of EOG Resources in the third quarter valued at approximately $28,000. Gladius Capital Management LP bought 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 position in shares of EOG Resources in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 1.0 %

Shares of NYSE EOG opened at $126.62 on Wednesday. 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 52 week low of $108.94 and a 52 week high of $139.67. The firm’s fifty day moving average is $129.46 and its 200 day moving average is $126.34. The company has a market cap of $71.21 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.40 and a beta of 1.29.

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 paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.08%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources declared that its Board of Directors has initiated a share buyback plan 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 purchase up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EOG. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. JPMorgan Chase & Co. dropped 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. Scotiabank dropped their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Susquehanna dropped 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 report on Wednesday, September 4th. Finally, Evercore ISI dropped their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Fifteen equities research 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.20.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction 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. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is 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.