Arvest Investments Inc. Buys 1,919 Shares of EOG Resources, Inc. (NYSE:EOG)

Arvest Investments Inc. boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,005 shares of the energy exploration company’s stock after purchasing an additional 1,919 shares during the period. Arvest Investments Inc.’s holdings in EOG Resources were worth $1,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC bought a new position in EOG Resources during the third quarter valued at approximately $26,000. Riverview Trust Co bought a new position in EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in EOG Resources during the second quarter valued at approximately $28,000. Eastern Bank purchased a new stake in EOG Resources during the third quarter valued at approximately $28,000. Finally, Gladius Capital Management LP purchased a new stake in EOG Resources during the second quarter valued at approximately $30,000. Institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on EOG. Morgan Stanley reduced their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on shares of EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, October 14th. Finally, StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.20.

Insider Transactions at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

EOG stock traded up $7.66 during trading on Friday, hitting $134.12. 5,335,478 shares of the company’s stock traded hands, compared to its average volume of 2,360,372. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The business has a fifty day simple moving average of $125.19 and a 200 day simple moving average of $126.02. The stock has a market capitalization of $76.26 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 3.35 and a beta of 1.28.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

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

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.