Cravens & Co Advisors LLC Trims Holdings in EOG Resources, Inc. (NYSE:EOG)

Cravens & Co Advisors LLC reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,153 shares of the energy exploration company’s stock after selling 509 shares during the period. EOG Resources makes up 0.8% of Cravens & Co Advisors LLC’s portfolio, making the stock its 28th biggest holding. Cravens & Co Advisors LLC’s holdings in EOG Resources were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in EOG Resources during the third quarter valued at about $26,000. Riverview Trust Co bought a new stake in EOG Resources in the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new stake in EOG Resources in the third quarter worth approximately $28,000. Finally, Gladius Capital Management LP bought a new position in EOG Resources during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of recent research reports. Evercore ISI lowered their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Citigroup raised their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Scotiabank lowered their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on shares of EOG Resources from $135.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Price Performance

EOG opened at $132.54 on Wednesday. The firm has a market cap of $74.55 billion, a PE ratio of 10.67, a P/E/G ratio of 3.51 and a beta of 1.28. The stock has a 50-day moving average price of $128.34 and a 200-day moving average price of $126.18. 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.

EOG Resources announced that its board has initiated a share buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.94%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

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.