ING Groep NV Sells 41,789 Shares of EOG Resources, Inc. (NYSE:EOG)

ING Groep NV lowered its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 35.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,045 shares of the energy exploration company's stock after selling 41,789 shares during the quarter. ING Groep NV's holdings in EOG Resources were worth $9,348,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. raised its holdings in EOG Resources by 2.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,705 shares of the energy exploration company's stock worth $4,266,000 after purchasing an additional 903 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of EOG Resources by 9.3% during the third quarter. Metis Global Partners LLC now owns 24,580 shares of the energy exploration company's stock worth $3,022,000 after buying an additional 2,088 shares during the period. Curi RMB Capital LLC raised its holdings in shares of EOG Resources by 10.4% in the third quarter. Curi RMB Capital LLC now owns 196,612 shares of the energy exploration company's stock valued at $24,170,000 after purchasing an additional 18,492 shares during the last quarter. KBC Group NV lifted its position in EOG Resources by 11.4% during the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company's stock worth $14,645,000 after buying an additional 12,210 shares in the last quarter. Finally, Huntington National Bank grew its stake in EOG Resources by 4.1% in the third quarter. Huntington National Bank now owns 365,792 shares of the energy exploration company's stock valued at $44,967,000 after purchasing an additional 14,305 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Down 0.4 %

EOG Resources stock traded down $0.60 during mid-day trading on Friday, reaching $134.59. The stock had a trading volume of 2,279,713 shares, compared to its average volume of 3,134,220. 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 fifty-two week low of $108.94 and a fifty-two week high of $139.67. The stock's 50-day simple moving average is $125.97 and its 200-day simple moving average is $126.04. The firm has a market capitalization of $75.70 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 3.56 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. This is an increase from EOG Resources's previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.90%. EOG Resources's dividend payout ratio is presently 29.31%.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price 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. Evercore ISI decreased their price target 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. Susquehanna reduced their target price on EOG Resources from $159.00 to $158.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Benchmark restated a "hold" rating on shares of EOG Resources in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on EOG Resources from $143.00 to $135.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $142.20.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the company's stock in a transaction 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 completion of the transaction, the director now owns 60,892 shares of the company's stock, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

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.