Farmers Trust Co. Decreases Stake in EOG Resources, Inc. (NYSE:EOG)

Farmers Trust Co. lowered its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,046 shares of the energy exploration company’s stock after selling 448 shares during the period. Farmers Trust Co.’s holdings in EOG Resources were worth $3,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EOG. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the 3rd quarter worth approximately $26,000. Eastern Bank bought a new stake in shares of EOG Resources during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new stake in EOG Resources in the third quarter valued at approximately $31,000. HM Payson & Co. increased its holdings in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after buying an additional 220 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in EOG Resources in the third quarter worth $43,000. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. Citigroup increased their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Mizuho reduced their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price target on shares of EOG Resources in a report on Monday. Finally, Raymond James boosted their price target on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Thirteen investment 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 a consensus price target of $143.71.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s 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 in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock traded up $0.64 during mid-day trading on Wednesday, hitting $128.20. The stock had a trading volume of 1,753,962 shares, compared to its average volume of 2,613,657. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The firm’s 50 day moving average is $127.48 and its 200 day moving average is $126.61. The firm has a market capitalization of $72.11 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.39 and a beta of 1.29.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s payout ratio is currently 31.40%.

EOG Resources declared that its board has authorized a stock 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 reacquire up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.