Aigen Investment Management LP Takes Position in EOG Resources, Inc. (NYSE:EOG)

Aigen Investment Management LP bought a new stake in EOG Resources, Inc. (NYSE:EOG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,995 shares of the energy exploration company’s stock, valued at approximately $245,000.

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

EOG Resources Stock Down 0.5 %

EOG stock opened at $134.56 on Friday. 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 company’s 50 day simple moving average is $126.25 and its 200-day simple moving average is $126.03. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market capitalization of $75.68 billion, a PE ratio of 10.83, a P/E/G ratio of 3.56 and a beta of 1.28.

EOG Resources declared that its board has authorized a stock buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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 given a dividend of $0.975 per share. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 annualized dividend and a yield of 2.90%. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

Insider Transactions at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated 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 directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The trade was a 9.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Susquehanna lowered their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. UBS Group cut their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Finally, StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Fourteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.20.

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.