D.A. Davidson & CO. Increases Stake in EOG Resources, Inc. (NYSE:EOG)

D.A. Davidson & CO. increased its stake in EOG Resources, Inc. (NYSE:EOG) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,850 shares of the energy exploration company’s stock after buying an additional 6,216 shares during the period. D.A. Davidson & CO.’s holdings in EOG Resources were worth $24,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. DRW Securities LLC lifted its stake in shares of EOG Resources by 98.6% in the 3rd 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 lifted its position in EOG Resources by 7.7% during the third 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. boosted its holdings in shares of EOG Resources by 3,976.8% during the 2nd 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 in the last quarter. KBC Group NV grew its position in shares of EOG Resources by 11.4% in the 3rd 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 stake in shares of EOG Resources by 44.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after acquiring an additional 3,251 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Scotiabank dropped their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Susquehanna reduced their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus target price of $144.00.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the business’s 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 completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

NYSE EOG opened at $131.98 on Tuesday. The stock has a market capitalization of $74.23 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 3.62 and a beta of 1.28. 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 business’s fifty day moving average price is $128.16 and its 200-day moving average price is $126.16. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.95%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is 29.31%.

EOG Resources announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.