EOG Resources, Inc. (NYSE:EOG) Short Interest Update

EOG Resources, Inc. (NYSE:EOG) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 13,280,000 shares, an increase of 10.6% from the October 31st total of 12,010,000 shares. Based on an average daily trading volume, of 3,090,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.4% of the shares of the stock are short sold.

EOG Resources Stock Up 0.4 %

NYSE:EOG traded up $0.56 during mid-day trading on Tuesday, hitting $131.80. 2,362,148 shares of the company’s stock traded hands, compared to its average volume of 3,119,547. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a market capitalization of $74.13 billion, a P/E ratio of 10.61, a P/E/G ratio of 3.49 and a beta of 1.29. 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 company has a fifty day moving average of $128.97 and a 200 day moving average of $126.29.

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 paid a $0.975 dividend. 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 dividend on an annualized basis and a yield of 2.96%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its board has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are 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 that occurred on Tuesday, November 19th. The stock was 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 approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Charles Schwab Investment Management Inc. lifted its stake in shares of EOG Resources by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after buying an additional 75,194 shares in the last quarter. Geode Capital Management LLC grew its position in shares of EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after purchasing an additional 260,727 shares during the last quarter. Franklin Resources Inc. lifted its position in EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after buying an additional 403,676 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on EOG shares. Morgan Stanley dropped their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Barclays dropped 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. UBS Group reduced their target price on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Evercore ISI decreased their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and an average price target of $144.20.

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.