MAI Capital Management Has $1.14 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

MAI Capital Management reduced its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 29.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,279 shares of the energy exploration company's stock after selling 3,833 shares during the period. MAI Capital Management's holdings in EOG Resources were worth $1,141,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EOG Resources during the second quarter valued at approximately $106,990,000. Legal & General Group Plc increased its position in shares of EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock valued at $609,300,000 after purchasing an additional 403,676 shares during the period. National Bank of Canada FI increased its position in shares of EOG Resources by 237.9% during the second quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company's stock valued at $61,741,000 after purchasing an additional 343,527 shares during the period. Canada Pension Plan Investment Board increased its position in shares of EOG Resources by 67.3% during the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company's stock valued at $107,856,000 after purchasing an additional 339,480 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company's stock valued at $136,874,000 after purchasing an additional 333,947 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 0.6 %

NYSE:EOG traded up $0.85 during mid-day trading on Friday, hitting $136.35. The company had a trading volume of 2,514,865 shares, compared to its average volume of 3,124,417. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The business's fifty day moving average is $127.61 and its two-hundred day moving average is $126.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $76.69 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.58 and a beta of 1.28.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This is a positive change 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 2.86%. EOG Resources's dividend payout ratio is presently 31.40%.

EOG Resources declared that its board has initiated a share buyback program 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 programs are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EOG. UBS Group lowered their price objective on EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $145.00 price target on shares of EOG Resources in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered their price target 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. Benchmark reiterated a "hold" rating on shares of EOG Resources in a research report on Tuesday, November 12th. Finally, Barclays lowered their price target on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EOG Resources currently has an average rating of "Hold" and a consensus target price of $144.00.

Insiders Place Their Bets

In other EOG Resources 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 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. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 74,250 shares of the company's stock, valued at $9,615,375. This trade represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

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.