Arvest Investments Inc. Boosts Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Arvest Investments Inc. raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 17.3% during the third quarter, HoldingsChannel reports. The firm owned 13,005 shares of the energy exploration company’s stock after purchasing an additional 1,919 shares during the period. Arvest Investments Inc.’s holdings in EOG Resources were worth $1,599,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cape ANN Savings Bank grew its position in shares of EOG Resources by 0.9% in the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after buying an additional 79 shares during the last quarter. CVA Family Office LLC grew its position in shares of EOG Resources by 11.0% in the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after buying an additional 81 shares during the last quarter. Bailard Inc. grew its position in shares of EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after buying an additional 81 shares during the last quarter. Everpar Advisors LLC grew its position in shares of EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after buying an additional 83 shares during the last quarter. Finally, Altman Advisors Inc. grew its position in shares of EOG Resources by 0.7% in the 2nd quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction 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 owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock traded up $7.66 during trading hours on Friday, reaching $134.12. 5,335,478 shares of the company’s stock were exchanged, compared to its average volume of 2,360,372. 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 $76.26 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 3.35 and a beta of 1.28. The business has a fifty day moving average of $125.19 and a two-hundred day moving average of $126.02. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources declared that its board has approved a share buyback plan 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 reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.91%. EOG Resources’s dividend payout ratio is presently 31.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EOG. Wells Fargo & Company lowered their target price on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Evercore ISI decreased their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Susquehanna decreased their price objective 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. Wolfe Research initiated coverage on shares of EOG Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Sanford C. Bernstein decreased their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $141.20.

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.