Public Sector Pension Investment Board Reduces Position in EOG Resources, Inc. (NYSE:EOG)

Public Sector Pension Investment Board cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,267 shares of the energy exploration company’s stock after selling 780 shares during the quarter. Public Sector Pension Investment Board’s holdings in EOG Resources were worth $12,203,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EOG. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the third quarter valued at $26,000. Riverview Trust Co purchased a new stake in EOG Resources in the second quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in EOG Resources in the second quarter valued at $28,000. Eastern Bank purchased a new stake in EOG Resources in the third quarter valued at $28,000. Finally, Gladius Capital Management LP purchased a new stake in EOG Resources in the second quarter valued at $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.4 %

EOG stock opened at $133.09 on Friday. The company has a market cap of $74.86 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 3.51 and a beta of 1.28. 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, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a 50-day moving average of $128.67 and a two-hundred day moving average of $126.27.

EOG Resources Increases Dividend

The company 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 boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.93%. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its board has authorized a share buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EOG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. KeyCorp lowered their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, Scotiabank lowered 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. Fifteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $144.20.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the 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 owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.