Cooper Financial Group Sells 97 Shares of EOG Resources, Inc. (NYSE:EOG)

Cooper Financial Group reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,476 shares of the energy exploration company’s stock after selling 97 shares during the quarter. Cooper Financial Group’s holdings in EOG Resources were worth $794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC bought a new stake in EOG Resources during the third quarter worth about $26,000. Eastern Bank purchased a new position in shares of EOG Resources during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources in the 3rd quarter worth approximately $31,000. HM Payson & Co. boosted its stake in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after buying an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new position in EOG Resources during the third quarter valued at approximately $43,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Up 2.4 %

Shares of NYSE:EOG opened at $134.51 on Tuesday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The stock’s fifty day moving average price is $128.21 and its 200-day moving average price is $126.77. The company has a market cap of $75.66 billion, a P/E ratio of 10.83, a PEG ratio of 3.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. 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 yield of 2.90%. EOG Resources’s payout ratio is currently 31.40%.

EOG Resources announced that its board has initiated a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

EOG has been the subject of several recent research reports. Bank of America reissued a “neutral” rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a research note on Monday. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday. KeyCorp reduced their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources has an average rating of “Hold” and a consensus target price of $143.48.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’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 transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% 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.