Moors & Cabot Inc. Invests $208,000 in EOG Resources, Inc. (NYSE:EOG)

Moors & Cabot Inc. acquired a new stake in EOG Resources, Inc. (NYSE:EOG) during the third quarter, HoldingsChannel.com reports. The fund acquired 1,696 shares of the energy exploration company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EOG. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources in the 3rd quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in EOG Resources in the second quarter valued at $28,000. Eastern Bank purchased a new position in EOG Resources in the third quarter valued at about $28,000. Finally, Gladius Capital Management LP purchased a new position in EOG Resources in the 2nd quarter valued at approximately $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the business’s 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 sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on EOG shares. Evercore ISI reduced their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Susquehanna dropped their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. Finally, StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $144.00.

EOG Resources Stock Up 0.6 %

Shares of EOG Resources stock opened at $136.35 on Monday. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a market capitalization of $76.69 billion, a P/E ratio of 10.98, a PEG ratio of 3.59 and a beta of 1.28. The business’s fifty day moving average price is $127.95 and its two-hundred day moving average price is $126.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources announced that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 29.31%.

EOG Resources 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.