Benjamin Edwards Inc. Grows Stake in EOG Resources, Inc. (NYSE:EOG)

Benjamin Edwards Inc. grew its position in EOG Resources, Inc. (NYSE:EOG) by 2,590.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 302,504 shares of the energy exploration company’s stock after purchasing an additional 291,262 shares during the quarter. Benjamin Edwards Inc.’s holdings in EOG Resources were worth $37,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in EOG Resources during the 3rd quarter valued at about $59,000. Edgestream Partners L.P. purchased a new position in shares of EOG Resources in the 3rd quarter valued at $1,410,000. Eventide Asset Management LLC raised its position in shares of EOG Resources by 16.0% in the 3rd quarter. Eventide Asset Management LLC now owns 24,710 shares of the energy exploration company’s stock worth $3,038,000 after acquiring an additional 3,404 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of EOG Resources by 3.9% during the 3rd quarter. Captrust Financial Advisors now owns 590,863 shares of the energy exploration company’s stock worth $72,635,000 after purchasing an additional 22,022 shares during the last quarter. Finally, Atlantic Union Bankshares Corp boosted its position in EOG Resources by 5.8% during the third quarter. Atlantic Union Bankshares Corp now owns 26,188 shares of the energy exploration company’s stock valued at $3,219,000 after purchasing an additional 1,442 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources 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 sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. 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. Scotiabank lowered their target price on shares of 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. Citigroup lifted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Barclays decreased their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Susquehanna reduced their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Fifteen 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, the company currently has a consensus rating of “Hold” and an average price target of $144.20.

EOG Resources Stock Performance

EOG opened at $133.26 on Monday. The company has a market cap of $74.95 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 3.54 and a beta of 1.28. The firm’s fifty day simple moving average is $128.82 and its two-hundred day simple moving average is $126.26. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources declared that its board has authorized a share repurchase program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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 paid a dividend of $0.975 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is 29.31%.

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.