Shorepath Capital Management LLC Trims Holdings in EOG Resources, Inc. (NYSE:EOG)

Shorepath Capital Management LLC decreased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 51,818 shares of the energy exploration company’s stock after selling 3,625 shares during the period. EOG Resources accounts for approximately 4.5% of Shorepath Capital Management LLC’s portfolio, making the stock its 11th largest holding. Shorepath Capital Management LLC’s holdings in EOG Resources were worth $6,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EOG. Insight Inv LLC raised its holdings in shares of EOG Resources by 0.8% in the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares during the period. Cape ANN Savings Bank grew its stake in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after purchasing an additional 79 shares in the last quarter. Everpar Advisors LLC grew its holdings in EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after acquiring an additional 83 shares in the last quarter. FSM Wealth Advisors LLC raised its stake in shares of EOG Resources by 5.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,702 shares of the energy exploration company’s stock valued at $209,000 after purchasing an additional 88 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of EOG Resources by 11.8% during the third quarter. Grove Bank & Trust now owns 844 shares of the energy exploration company’s stock worth $104,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of the stock in a transaction that occurred 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 sale, the director now directly 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 document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. The trade was a 8.56 % 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 Stock Performance

Shares of EOG Resources stock opened at $134.51 on Tuesday. The company has a 50 day moving average of $128.21 and a 200-day moving average of $126.77. The company has a market cap of $75.66 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its Board of Directors 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 reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.90%. EOG Resources’s dividend payout ratio is presently 31.40%.

Analyst Ratings Changes

Several brokerages have recently commented on EOG. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Scotiabank lowered their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. KeyCorp decreased their target price 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. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $143.48.

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.