EOG Resources, Inc. (NYSE:EOG) Shares Purchased by Montecito Bank & Trust

Montecito Bank & Trust lifted its stake in EOG Resources, Inc. (NYSE:EOG) by 9.5% in the fourth quarter, HoldingsChannel reports. The fund owned 7,522 shares of the energy exploration company’s stock after purchasing an additional 650 shares during the quarter. Montecito Bank & Trust’s holdings in EOG Resources were worth $922,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in EOG Resources during the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at $27,000. Eastern Bank bought a new position in EOG Resources during the third quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in EOG Resources during the third quarter worth about $31,000. Finally, HM Payson & Co. raised its position in EOG Resources by 203.7% in the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho reduced 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. Citigroup raised their target price on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Bank of America reissued a “neutral” rating and set a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Finally, Barclays decreased their target price on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $143.86.

EOG Resources Price Performance

NYSE EOG opened at $133.91 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $75.32 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 3.76 and a beta of 1.29. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a 50 day moving average price of $129.09 and a two-hundred day moving average price of $127.27.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the company posted $3.44 earnings per share. As a group, equities analysts predict that EOG Resources, Inc. will post 11.45 earnings per share for the current fiscal year.

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 issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio (DPR) is 31.40%.

EOG Resources announced that its board has authorized a share 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction 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 approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.