Capital Investment Counsel LLC Grows Stake in EOG Resources, Inc. (NYSE:EOG)

Capital Investment Counsel LLC increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 9.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,678 shares of the energy exploration company’s stock after buying an additional 3,626 shares during the period. Capital Investment Counsel LLC’s holdings in EOG Resources were worth $5,246,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Caprock Group LLC raised its holdings in shares of EOG Resources by 7.7% in the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after purchasing an additional 10,618 shares during the last quarter. KBC Group NV grew its stake in EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of EOG Resources by 44.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of EOG Resources by 13.3% during the 1st quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock valued at $6,518,000 after buying an additional 5,972 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of several research reports. Evercore ISI cut their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. UBS Group cut their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Raymond James raised their price objective on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday. Morgan Stanley cut their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.00.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

EOG Resources Trading Up 0.6 %

EOG opened at $136.35 on Friday. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business has a 50 day simple moving average of $127.95 and a two-hundred day simple moving average of $126.18. The firm has a market capitalization of $76.69 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.59 and a beta of 1.28.

EOG Resources Increases Dividend

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

EOG Resources announced that its board has authorized a stock repurchase program 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.