Montchanin Asset Management LLC Boosts Holdings in EOG Resources, Inc. (NYSE:EOG)

Montchanin Asset Management LLC increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,355 shares of the energy exploration company’s stock after purchasing an additional 500 shares during the period. Montchanin Asset Management LLC’s holdings in EOG Resources were worth $535,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC bought a new stake in shares of EOG Resources during the third quarter worth $26,000. Riverview Trust Co purchased a new stake in EOG Resources in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the 2nd quarter worth about $28,000. Eastern Bank purchased a new position in shares of EOG Resources during the third quarter worth approximately $28,000. Finally, Gladius Capital Management LP bought a new stake in shares of EOG Resources during the second quarter valued at approximately $30,000. 89.91% of the stock is currently owned by institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

EOG Resources Stock Down 1.7 %

NYSE:EOG opened at $127.81 on Friday. The company’s 50 day moving average is $129.37 and its two-hundred day moving average is $126.31. The company has a market cap of $71.89 billion, a PE ratio of 10.29, a P/E/G ratio of 3.44 and a beta of 1.29. 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, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid 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 yield of 3.05%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 29.31%.

Analyst Upgrades and Downgrades

Several research analysts have commented on EOG shares. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Raymond James lifted their price objective on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. KeyCorp lowered their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup boosted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. Fifteen 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 stock. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $144.20.

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.