Horan Capital Advisors LLC. Lowers Position in EOG Resources, Inc. (NYSE:EOG)

Horan Capital Advisors LLC. decreased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 20,715 shares of the energy exploration company’s stock after selling 156 shares during the period. Horan Capital Advisors LLC.’s holdings in EOG Resources were worth $2,546,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in EOG Resources in the third quarter worth $26,000. Riverview Trust Co bought a new stake in shares of EOG Resources during the 2nd quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources during the 2nd quarter valued at $28,000. Eastern Bank purchased a new stake in shares of EOG Resources in the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new position in shares of EOG Resources in the 2nd quarter worth about $30,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

EOG opened at $136.54 on Tuesday. The company has a 50 day simple moving average of $126.57 and a two-hundred day simple moving average of $125.99. 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 firm has a market cap of $76.80 billion, a P/E ratio of 10.99, a PEG ratio of 3.57 and a beta of 1.28. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67.

EOG Resources Increases Dividend

The firm also recently declared 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 represents a $3.90 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources announced that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently commented on EOG. Evercore ISI dropped their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. UBS Group cut their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. KeyCorp reduced their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley dropped their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $142.30.

Insider Buying and Selling at EOG Resources

In related news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This represents a 12.94 % 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 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.