STAR Financial Bank Sells 435 Shares of EOG Resources, Inc. (NYSE:EOG)

STAR Financial Bank cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,712 shares of the energy exploration company’s stock after selling 435 shares during the period. STAR Financial Bank’s holdings in EOG Resources were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other 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 worth about $26,000. Riverview Trust Co bought a new position in shares of EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased 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 worth $28,000. Finally, Gladius Capital Management LP bought a new stake in EOG Resources during the 2nd quarter valued at $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, October 14th. Susquehanna cut their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Evercore ISI decreased their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Scotiabank cut their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EOG Resources has an average rating of “Hold” and a consensus price target of $142.30.

EOG Resources Trading Up 0.8 %

NYSE EOG opened at $136.23 on Thursday. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market capitalization of $76.62 billion, a PE ratio of 10.97, a P/E/G ratio of 3.58 and a beta of 1.28. The company has a fifty day moving average of $127.27 and a 200 day moving average of $126.10.

EOG Resources declared that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently disclosed 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 2.86%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 29.31%.

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.