Kingsview Wealth Management LLC Raises Holdings in EOG Resources, Inc. (NYSE:EOG)

Kingsview Wealth Management LLC grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 41.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,490 shares of the energy exploration company’s stock after purchasing an additional 1,305 shares during the quarter. Kingsview Wealth Management LLC’s holdings in EOG Resources were worth $552,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EOG. Caprock Group LLC grew its holdings in shares of EOG Resources by 7.7% during the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after buying an additional 862 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its holdings in shares of EOG Resources by 3,976.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares during the last quarter. KBC Group NV grew its holdings in shares of EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after buying an additional 12,210 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of EOG Resources by 23.7% during the second quarter. Intech Investment Management LLC now owns 61,304 shares of the energy exploration company’s stock worth $7,716,000 after buying an additional 11,752 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 0.4 %

Shares of EOG opened at $133.07 on Thursday. 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 50 day simple moving average of $128.52 and a 200-day simple moving average of $126.22. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The stock has a market cap of $74.85 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28.

EOG Resources declared that its Board of Directors has authorized a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred 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 directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EOG shares. Raymond James raised their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. KeyCorp reduced their price objective on shares of 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 reduced 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 research report on Monday, September 16th. Finally, Citigroup raised their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $144.20.

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.