Bank of Montreal Can Sells 417,626 Shares of EOG Resources, Inc. (NYSE:EOG)

Bank of Montreal Can lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 36.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 733,694 shares of the energy exploration company's stock after selling 417,626 shares during the quarter. Bank of Montreal Can owned about 0.13% of EOG Resources worth $89,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EOG. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company's stock worth $2,140,338,000 after acquiring an additional 75,194 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company's stock worth $1,549,098,000 after buying an additional 260,727 shares during the last quarter. Legal & General Group Plc increased its position in EOG Resources by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock valued at $609,300,000 after buying an additional 403,676 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in EOG Resources by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company's stock valued at $563,070,000 after buying an additional 258,732 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in EOG Resources by 3.2% during the third quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company's stock valued at $523,024,000 after buying an additional 130,822 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the 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 completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $1.34 during mid-day trading on Wednesday, reaching $133.88. 167,763 shares of the company traded hands, compared to its average volume of 3,121,350. The company's 50 day moving average price is $128.34 and its 200-day moving average price is $126.18. The firm has a market cap of $75.30 billion, a PE ratio of 10.67, a PEG ratio of 3.51 and a beta of 1.28. 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 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

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

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.91%. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources's dividend payout ratio (DPR) is presently 29.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EOG. KeyCorp lowered their price target on EOG Resources from $157.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Susquehanna reduced their price target on shares of EOG Resources from $159.00 to $158.00 and set a "positive" rating for the company in a research report on Wednesday, September 4th. Evercore ISI lowered their price objective on EOG Resources from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. Morgan Stanley cut their target price on 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. Finally, UBS Group lowered their price target on EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, EOG Resources currently has an average rating of "Hold" and an average price target of $144.20.

EOG Resources 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.