EOG Resources, Inc. (NYSE:EOG) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.6% during the 4th quarter, HoldingsChannel reports. The firm owned 70,519 shares of the energy exploration company’s stock after selling 2,632 shares during the quarter. OLD National Bancorp IN’s holdings in EOG Resources were worth $8,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EOG. Franklin Resources Inc. boosted its holdings in shares of EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of EOG Resources by 856.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock valued at $147,621,000 after buying an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EOG Resources during the 2nd quarter valued at approximately $106,990,000. Assenagon Asset Management S.A. raised its position in shares of EOG Resources by 577.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after buying an additional 593,823 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after buying an additional 333,947 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction 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 owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $130.23 on Thursday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $128.82 and a 200 day moving average price of $127.41. The company has a market cap of $73.25 billion, a P/E ratio of 10.49, a PEG ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.03 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. During the same quarter in the previous year, the firm posted $3.44 earnings per share. Sell-side analysts predict that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

EOG Resources declared that its board has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced 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 of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 31.40%.

Analyst Ratings Changes

EOG has been the topic of several analyst reports. Scotiabank reduced 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 report on Thursday, October 10th. Citigroup lifted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 target price on shares of EOG Resources in a research report on Monday, January 6th. KeyCorp cut their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $143.90.

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.