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

Guinness Asset Management LTD lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 13.1% in 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Smart Money Group LLC increased its holdings in EOG Resources by 7.7% during the fourth quarter. Smart Money Group LLC now owns 4,827 shares of the energy exploration company’s stock worth $592,000 after buying an additional 346 shares during the last quarter. Ellsworth Advisors LLC increased its stake in shares of EOG Resources by 4.9% during the 4th quarter. Ellsworth Advisors LLC now owns 13,665 shares of the energy exploration company’s stock worth $1,675,000 after purchasing an additional 633 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of EOG Resources by 10.0% in the 4th quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock worth $114,000 after purchasing an additional 84 shares during the period. Brady Martz Wealth Solutions LLC purchased a new position in EOG Resources in the fourth quarter valued at approximately $1,218,000. Finally, My Legacy Advisors LLC grew its holdings in EOG Resources by 5.7% during the fourth quarter. My Legacy Advisors LLC now owns 6,428 shares of the energy exploration company’s stock valued at $788,000 after purchasing an additional 344 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was 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 owns 43,532 shares of the company’s stock, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a report on Monday, January 6th. Bank of America reiterated a “neutral” rating and issued a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Barclays dropped 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 research note on Thursday, October 3rd. Finally, Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $143.48.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $136.70 on Monday. The company’s fifty day simple moving average is $128.96 and its two-hundred day simple moving average is $127.07. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a market cap of $76.89 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.29. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources declared that its board has authorized a share repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is currently 29.31%.

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.