EOG Resources, Inc. (NYSE:EOG) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its position in EOG Resources, Inc. (NYSE:EOG) by 13.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 153,646 shares of the energy exploration company’s stock after selling 24,530 shares during the quarter. Martingale Asset Management L P’s holdings in EOG Resources were worth $18,888,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. DRW Securities LLC lifted its holdings in EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after buying an additional 13,324 shares in the last quarter. Caprock Group LLC raised its stake 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 purchasing an additional 862 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in shares of EOG Resources by 3,976.8% in the 2nd 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 in the last quarter. KBC Group NV raised its stake in shares of EOG Resources by 11.4% in the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after purchasing an additional 12,210 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake 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 valued at $1,303,000 after purchasing an additional 3,251 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of recent analyst reports. Scotiabank cut their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI cut their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Susquehanna cut their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $144.20.

EOG Resources Price Performance

NYSE EOG opened at $133.09 on Friday. The company has a 50-day moving average price of $128.67 and a two-hundred day moving average price of $126.27. The stock has a market cap of $74.86 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 3.54 and a beta of 1.28. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources announced that its board has approved a stock repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

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.