Wright Investors Service Inc. Sells 3,270 Shares of EOG Resources, Inc. (NYSE:EOG)

Wright Investors Service Inc. lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 36.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,704 shares of the energy exploration company’s stock after selling 3,270 shares during the quarter. Wright Investors Service Inc.’s holdings in EOG Resources were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the 3rd quarter worth approximately $26,000. Eastern Bank purchased a new stake in shares of EOG Resources in the third quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in shares of EOG Resources during the 3rd quarter valued at $31,000. HM Payson & Co. lifted its stake in shares of EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after buying an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new position in EOG Resources in the 3rd quarter worth $43,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

NYSE EOG opened at $134.51 on Tuesday. The business’s 50 day moving average price is $128.21 and its 200-day moving average price is $126.77. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a market cap of $75.66 billion, a P/E ratio of 10.83, a P/E/G ratio of 3.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

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

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.90%. EOG Resources’s payout ratio is 31.40%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Janet F. Clark sold 568 shares of the 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 completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was 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.

Wall Street Analyst Weigh In

A number of research firms have commented on EOG. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho lowered their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Scotiabank dropped their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Citigroup upped their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. 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 company’s stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and an average target price of $143.48.

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.