EOG Resources, Inc. (NYSE:EOG) Shares Sold by Citizens Business Bank

Citizens Business Bank cut its stake in EOG Resources, Inc. (NYSE:EOG) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,210 shares of the energy exploration company’s stock after selling 156 shares during the quarter. Citizens Business Bank’s holdings in EOG Resources were worth $3,468,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. DRW Securities LLC raised its position in EOG Resources by 98.6% in the third quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC raised its holdings in EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after buying an additional 862 shares during the period. University of Texas Texas AM Investment Management Co. lifted its position in 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 valued at $1,370,000 after buying an additional 10,618 shares during the last quarter. KBC Group NV boosted its stake in EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position 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 last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred 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 transaction, the director now owns 43,532 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on EOG shares. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. KeyCorp decreased their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Susquehanna dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley reduced their price target on shares of 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. Finally, Evercore ISI dropped their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Trading Down 1.0 %

NYSE EOG opened at $126.62 on Wednesday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a market capitalization of $71.21 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm’s fifty day moving average price is $129.46 and its 200 day moving average price is $126.34.

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

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 29.31%.

EOG Resources Company 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.