EOG Resources, Inc. (NYSE:EOG) Stake Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,933 shares of the energy exploration company's stock after purchasing an additional 5,757 shares during the period. CIBC Asset Management Inc's holdings in EOG Resources were worth $11,424,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the third quarter worth $26,000. Riverview Trust Co acquired a new stake in EOG Resources in the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in EOG Resources in the 2nd quarter valued at about $28,000. Eastern Bank acquired a new position in shares of EOG Resources during the 3rd quarter valued at about $28,000. Finally, Gladius Capital Management LP purchased a new position in shares of EOG Resources during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Down 0.5 %

Shares of NYSE EOG traded down $0.63 during midday trading on Friday, reaching $134.56. 2,279,909 shares of the company's stock were exchanged, compared to its average volume of 2,702,890. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The business's fifty day moving average price is $126.25 and its two-hundred day moving average price is $125.99. The stock has a market capitalization of $75.68 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.57 and a beta of 1.28.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 is an increase from EOG Resources's previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.90%. EOG Resources's payout ratio is currently 31.40%.

EOG Resources announced that its Board of Directors has authorized a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding 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 usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on 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 owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EOG. UBS Group dropped their price target on shares of EOG Resources from $167.00 to $154.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Scotiabank lowered their price target 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. KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Finally, Susquehanna decreased their target price on EOG Resources from $159.00 to $158.00 and set a "positive" rating for the company in a report on Wednesday, September 4th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $142.20.

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.