Investment Management Corp of Ontario Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Investment Management Corp of Ontario increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 12.2% in the third quarter, Holdings Channel.com reports. The firm owned 56,238 shares of the energy exploration company’s stock after purchasing an additional 6,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in EOG Resources were worth $6,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hilltop Holdings Inc. lifted its position in EOG Resources by 93.9% in the third quarter. Hilltop Holdings Inc. now owns 4,695 shares of the energy exploration company’s stock valued at $577,000 after buying an additional 2,274 shares during the last quarter. Community Bank N.A. boosted its position in shares of EOG Resources by 11.6% in the third quarter. Community Bank N.A. now owns 11,362 shares of the energy exploration company’s stock worth $1,397,000 after acquiring an additional 1,183 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of EOG Resources by 2,590.8% in the third quarter. Benjamin Edwards Inc. now owns 302,504 shares of the energy exploration company’s stock worth $37,190,000 after buying an additional 291,262 shares during the period. FSA Wealth Management LLC acquired a new stake in EOG Resources in the third quarter valued at $59,000. Finally, Edgestream Partners L.P. bought a new stake in shares of EOG Resources in the 3rd quarter worth approximately $1,410,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

EOG Resources Stock Up 0.5 %

Shares of NYSE:EOG opened at $131.93 on Tuesday. The firm has a 50 day simple moving average of $128.82 and a 200 day simple moving average of $126.26. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a market cap of $74.20 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 3.54 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.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 29.31%.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. Citigroup boosted their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Raymond James raised their price target on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Finally, KeyCorp reduced their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EOG Resources has an average rating of “Hold” and a consensus target price of $144.20.

About EOG Resources

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.