Petredis Investment Advisors LLC Sells 860 Shares of EOG Resources, Inc. (NYSE:EOG)

Petredis Investment Advisors LLC lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 47,623 shares of the energy exploration company’s stock after selling 860 shares during the quarter. Petredis Investment Advisors LLC’s holdings in EOG Resources were worth $5,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in EOG Resources during the 3rd quarter valued at approximately $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources in the fourth quarter worth $27,000. Eastern Bank bought a new position in shares of EOG Resources during the third quarter valued at $28,000. Capital Performance Advisors LLP bought a new position in shares of EOG Resources during the third quarter valued at $31,000. Finally, HM Payson & Co. raised its position in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $131.73 on Friday. 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 stock has a 50-day simple moving average of $129.07 and a two-hundred day simple moving average of $127.31. The firm has a market capitalization of $74.09 billion, a PE ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the firm posted $3.44 EPS. Analysts forecast that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.96%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

EOG Resources announced that its Board of Directors has initiated a stock 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on EOG. Raymond James increased their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday. Barclays cut their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Bank of America restated a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Mizuho decreased their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $143.86.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business’s 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 transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.