D.A. Davidson & CO. Raises Holdings in EOG Resources, Inc. (NYSE:EOG)

D.A. Davidson & CO. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,850 shares of the energy exploration company's stock after buying an additional 6,216 shares during the quarter. D.A. Davidson & CO.'s holdings in EOG Resources were worth $24,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

EOG Resources Price Performance

Shares of NYSE EOG traded up $0.56 during trading on Tuesday, hitting $132.54. The company had a trading volume of 3,102,078 shares, compared to its average volume of 3,130,944. The stock has a fifty day simple moving average of $128.16 and a two-hundred day simple moving average of $126.16. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 3.62 and a beta of 1.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its board has initiated a stock buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.94%. This is a positive change from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources's dividend payout ratio is presently 29.31%.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources 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 directly owns 43,532 shares of the company's stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of EOG Resources from $134.00 to $132.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. UBS Group cut their price objective on shares of EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Citigroup upped their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a "neutral" rating in a report on Tuesday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $145.00 target price on shares of EOG Resources in a research note on Monday, October 14th. Finally, Barclays dropped their target price on shares of EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 3rd. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $144.20.

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.