Lavaca Capital LLC Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Lavaca Capital LLC reduced its position in EOG Resources, Inc. (NYSE:EOG) by 36.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the energy exploration company’s stock after selling 2,272 shares during the period. Lavaca Capital LLC’s holdings in EOG Resources were worth $492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of EOG Resources during the 1st quarter worth about $312,000. Swedbank AB bought a new position in shares of EOG Resources during the first quarter valued at approximately $387,000. Cetera Investment Advisers grew its stake in shares of EOG Resources by 218.2% during the first quarter. Cetera Investment Advisers now owns 100,558 shares of the energy exploration company’s stock valued at $12,855,000 after buying an additional 68,953 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of EOG Resources by 79.8% in the first quarter. Cetera Advisors LLC now owns 26,492 shares of the energy exploration company’s stock worth $3,387,000 after buying an additional 11,761 shares during the period. Finally, Transcend Capital Advisors LLC lifted its stake in shares of EOG Resources by 95.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 3,933 shares of the energy exploration company’s stock worth $495,000 after acquiring an additional 1,918 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Activity at EOG Resources

In other 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 value of $76,867.44. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EOG. Susquehanna lowered 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 note on Wednesday, September 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Barclays decreased their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Raymond James lifted their target price on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Evercore ISI dropped their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Stock Up 0.1 %

Shares of NYSE:EOG opened at $133.26 on Friday. 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 stock has a market cap of $74.95 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.54 and a beta of 1.28. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The firm has a fifty day moving average price of $128.82 and a 200 day moving average price of $126.28.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued 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 2.93%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

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.