Guinness Asset Management LTD Lowers Stock Position in EOG Resources, Inc. (NYSE:EOG)

Guinness Asset Management LTD cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,847 shares of the energy exploration company’s stock after selling 13,996 shares during the quarter. Guinness Asset Management LTD’s holdings in EOG Resources were worth $11,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EOG. Charles Schwab Investment Management Inc. grew its holdings in EOG Resources by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock worth $2,140,338,000 after purchasing an additional 75,194 shares during the period. Geode Capital Management LLC grew its stake in shares of EOG Resources by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after buying an additional 180,755 shares during the last quarter. Ameriprise Financial Inc. increased its position in EOG Resources by 2.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after buying an additional 260,727 shares in the last quarter. Franklin Resources Inc. raised its stake in EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EOG has been the subject of several analyst reports. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. Wolfe Research upgraded shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Barclays cut their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Raymond James boosted their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $143.48.

EOG Resources Stock Performance

EOG opened at $136.70 on Monday. The company’s 50 day moving average is $128.96 and its 200 day moving average is $127.07. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.63 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.

EOG Resources Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.85%. 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. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of EOG Resources 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 transaction, 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 disclosure for this sale can be found here. Insiders own 0.20% 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.