49 Wealth Management LLC Invests $200,000 in EOG Resources, Inc. (NYSE:EOG)

49 Wealth Management LLC bought a new position in EOG Resources, Inc. (NYSE:EOG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,631 shares of the energy exploration company’s stock, valued at approximately $200,000.

Several other institutional investors also recently bought and sold shares of EOG. Advisors Asset Management Inc. grew its position in EOG Resources by 3.8% during the 1st quarter. Advisors Asset Management Inc. now owns 29,899 shares of the energy exploration company’s stock valued at $3,822,000 after purchasing an additional 1,092 shares during the last quarter. Gamco Investors INC. ET AL grew its position in EOG Resources by 23.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock valued at $268,000 after purchasing an additional 400 shares during the last quarter. 1832 Asset Management L.P. grew its position in EOG Resources by 48.0% during the 1st quarter. 1832 Asset Management L.P. now owns 108,748 shares of the energy exploration company’s stock valued at $13,902,000 after purchasing an additional 35,286 shares during the last quarter. LRI Investments LLC purchased a new stake in EOG Resources during the 1st quarter valued at about $124,000. Finally, Epoch Investment Partners Inc. grew its position in EOG Resources by 10.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 14,132 shares of the energy exploration company’s stock valued at $1,807,000 after purchasing an additional 1,295 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the 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 of the company’s stock, valued at $9,615,375. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janet F. Clark sold 568 shares of the 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 sale, 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 disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

NYSE EOG opened at $136.35 on Friday. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The stock has a market cap of $76.69 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.58 and a beta of 1.28. The company’s 50 day moving average is $127.95 and its two-hundred day moving average is $126.20. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in 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 typically an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Scotiabank lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. KeyCorp lowered 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. Morgan Stanley lowered their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Raymond James upped their target price on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, UBS Group lowered their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Fifteen investment 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’s stock. According to MarketBeat, EOG Resources has an average rating of “Hold” and a consensus target price of $144.00.

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.