CIBC Asset Management Inc Increases Stake in EOG Resources, Inc. (NYSE:EOG)

CIBC Asset Management Inc boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 6.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 92,933 shares of the energy exploration company’s stock after purchasing an additional 5,757 shares during the period. CIBC Asset Management Inc’s holdings in EOG Resources were worth $11,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in EOG Resources during the 3rd quarter valued at about $26,000. Riverview Trust Co bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $28,000. Eastern Bank bought a new position in shares of EOG Resources in the 3rd quarter worth approximately $28,000. Finally, Gladius Capital Management LP bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $30,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 0.5 %

Shares of EOG opened at $134.56 on Friday. The company has a market cap of $75.68 billion, a PE ratio of 10.83, a P/E/G ratio of 3.56 and a beta of 1.28. The business has a fifty day moving average of $126.25 and a 200 day moving average of $125.99. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The firm also recently announced 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. This represents a $3.90 annualized dividend and a dividend yield of 2.90%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

EOG Resources announced that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley cut their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Susquehanna cut their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Fourteen investment 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 company. Based on data from MarketBeat, EOG Resources has an average rating of “Hold” and a consensus target price of $142.20.

Insider Transactions at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 9.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on 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 sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $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.

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.