Douglas Lane & Associates LLC Has $62.70 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Douglas Lane & Associates LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 511,493 shares of the energy exploration company’s stock after acquiring an additional 10,404 shares during the quarter. Douglas Lane & Associates LLC owned 0.09% of EOG Resources worth $62,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in EOG Resources in the third quarter valued at about $26,000. Eastern Bank bought a new position in EOG Resources in the 3rd quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new stake in EOG Resources during the 3rd quarter worth approximately $31,000. HM Payson & Co. grew its holdings in EOG Resources by 203.7% during the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares during the last quarter. Finally, Matrix Trust Co acquired a new position in EOG Resources in the 3rd quarter valued at approximately $43,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 0.4 %

Shares of EOG Resources stock traded up $0.55 during trading hours on Wednesday, reaching $128.11. The company’s stock had a trading volume of 1,395,595 shares, compared to its average volume of 2,537,437. The company has a market capitalization of $72.06 billion, a P/E ratio of 10.31, a P/E/G ratio of 3.39 and a beta of 1.29. The stock’s fifty day simple moving average is $127.48 and its two-hundred day simple moving average is $126.61. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

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 paid a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 3.04%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 31.40%.

EOG Resources declared that its board has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

EOG has been the subject of several analyst reports. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Barclays cut their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Finally, Mizuho decreased their price objective on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $143.71.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were 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 of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.