Quest Partners LLC Makes New $762,000 Investment in EOG Resources, Inc. (NYSE:EOG)

Quest Partners LLC acquired a new position in EOG Resources, Inc. (NYSE:EOG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,199 shares of the energy exploration company’s stock, valued at approximately $762,000.

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

Analysts Set New Price Targets

Several analysts have recently commented on EOG shares. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Evercore ISI decreased their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Scotiabank cut 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. UBS Group decreased their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price objective on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday. 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $144.00.

EOG Resources Stock Performance

Shares of EOG stock opened at $135.32 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $76.11 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 3.58 and a beta of 1.28. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The firm’s 50-day simple moving average is $127.61 and its two-hundred day simple moving average is $126.16.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.88%. EOG Resources’s dividend payout ratio is presently 31.40%.

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

Insider Buying and Selling at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’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 directly owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.