PNC Financial Services Group Inc. Has $26.98 Million Stake in EOG Resources, Inc. (NYSE:EOG)

PNC Financial Services Group Inc. boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 5.5% during the third quarter, Holdings Channel reports. The institutional investor owned 219,444 shares of the energy exploration company’s stock after acquiring an additional 11,425 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EOG Resources were worth $26,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in EOG Resources by 3.8% in the 1st quarter. Advisors Asset Management Inc. now owns 29,899 shares of the energy exploration company’s stock valued at $3,822,000 after purchasing an additional 1,092 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new position in shares of EOG Resources in the 1st quarter valued at $243,000. Capital International Sarl bought a new stake in shares of EOG Resources in the 1st quarter valued at $271,000. Canada Pension Plan Investment Board raised its stake in EOG Resources by 67.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock worth $107,856,000 after buying an additional 339,480 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in EOG Resources by 23.5% during the first quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock worth $268,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Scotiabank cut their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Susquehanna dropped their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Raymond James raised their target price on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Evercore ISI dropped their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average price target of $144.00.

Insider Activity

In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction that occurred 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 approximately $9,615,375. This represents a 12.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

EOG Resources Trading Down 0.7 %

EOG stock opened at $135.32 on Friday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a market capitalization of $76.11 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28. The company’s 50-day simple moving average is $127.61 and its 200 day simple moving average is $126.16. 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 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. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.88%. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

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

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.