Centric Wealth Management Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Centric Wealth Management bought a new stake in EOG Resources, Inc. (NYSE:EOG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,126 shares of the energy exploration company’s stock, valued at approximately $1,924,000.

A number of other hedge funds have also modified their holdings of EOG. Jacobs Levy Equity Management Inc. purchased a new position in EOG Resources in the 1st quarter worth approximately $312,000. Hancock Whitney Corp purchased a new stake in EOG Resources in the 1st quarter valued at about $208,000. Citizens Financial Group Inc. RI acquired a new position in EOG Resources in the first quarter valued at about $374,000. Sanibel Captiva Trust Company Inc. boosted its stake in EOG Resources by 10.3% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 3,125 shares of the energy exploration company’s stock worth $400,000 after buying an additional 291 shares during the period. Finally, Swedbank AB acquired a new stake in shares of EOG Resources during the first quarter valued at about $387,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EOG has been the topic of several recent analyst reports. Evercore ISI decreased their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Morgan Stanley cut their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Monday, October 14th. Barclays reduced their price objective 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. Finally, StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Trading Up 0.4 %

NYSE EOG opened at $133.09 on Friday. The company has a 50-day moving average of $128.67 and a 200-day moving average of $126.27. 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, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a market cap of $74.86 billion, a P/E ratio of 10.72, a P/E/G ratio of 3.54 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 dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, 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 sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by 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.