Aigen Investment Management LP Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Aigen Investment Management LP acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,995 shares of the energy exploration company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in EOG Resources during the 3rd quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in EOG Resources during the second quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the second quarter worth $28,000. Eastern Bank purchased a new position in shares of EOG Resources in the 3rd quarter valued at $28,000. Finally, Gladius Capital Management LP acquired a new position in shares of EOG Resources during the 2nd quarter valued at $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EOG. Evercore ISI lowered their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research report on Monday, October 14th. Barclays decreased their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Finally, KeyCorp decreased their target price on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Fourteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.20.

EOG Resources Trading Down 0.5 %

NYSE:EOG opened at $134.56 on Friday. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month 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. The business has a 50 day simple moving average of $126.25 and a 200 day simple moving average of $126.03. The firm has a market capitalization of $75.68 billion, a P/E ratio of 10.83, a P/E/G ratio of 3.56 and a beta of 1.28.

EOG Resources Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is currently 29.31%.

EOG Resources announced that its Board of Directors has approved a stock buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’s 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 of the company’s stock, valued at $9,615,375. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 9.65 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

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.