Cerity Partners LLC Reduces Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Cerity Partners LLC decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,431 shares of the energy exploration company’s stock after selling 2,610 shares during the quarter. Cerity Partners LLC’s holdings in EOG Resources were worth $14,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the third quarter worth about $26,000. Riverview Trust Co purchased a new stake in EOG Resources during the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in EOG Resources in the second quarter valued at approximately $28,000. Eastern Bank purchased a new position in shares of EOG Resources in the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the second quarter worth about $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EOG has been the topic of a number of recent research reports. Scotiabank reduced their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Raymond James increased their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Evercore ISI lowered their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $144.00.

EOG Resources Stock Down 3.2 %

Shares of NYSE EOG opened at $131.98 on Tuesday. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm’s 50-day simple moving average is $128.16 and its 200 day simple moving average is $126.16. The company has a market cap of $74.23 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 3.62 and a beta of 1.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

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.