GAMMA Investing LLC Has $1.06 Million Stake in EOG Resources, Inc. (NYSE:EOG)

GAMMA Investing LLC raised its stake in EOG Resources, Inc. (NYSE:EOG) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,609 shares of the energy exploration company’s stock after buying an additional 594 shares during the quarter. GAMMA Investing LLC’s holdings in EOG Resources were worth $1,055,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the 3rd quarter valued at $26,000. Eastern Bank bought a new stake in shares of EOG Resources in the 3rd quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources in the third quarter valued at about $31,000. HM Payson & Co. lifted its position in shares of EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Matrix Trust Co purchased a new position in EOG Resources during the third quarter worth about $43,000. Institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on EOG. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Monday, October 14th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday. Raymond James lifted their target price on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $143.48.

EOG Resources Stock Up 1.5 %

Shares of NYSE EOG opened at $126.57 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $127.18 and a 200-day moving average of $126.39. The firm has a market capitalization of $71.19 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.39 and a beta of 1.29. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.975 dividend. 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. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.08%. EOG Resources’s dividend payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % 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.

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.