Cornercap Investment Counsel Inc. Decreases Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Cornercap Investment Counsel Inc. lowered its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 49.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,733 shares of the energy exploration company's stock after selling 11,595 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in EOG Resources were worth $1,442,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in EOG. Vanguard Group Inc. grew its stake in shares of EOG Resources by 0.3% in the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company's stock worth $6,938,635,000 after acquiring an additional 146,674 shares during the last quarter. Capital Research Global Investors raised its stake in shares of EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company's stock valued at $3,693,261,000 after buying an additional 373,365 shares in the last quarter. Capital World Investors boosted its holdings in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company's stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings 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 purchasing an additional 260,727 shares during the last quarter. Finally, Capital International Investors grew its stake in EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company's stock worth $1,478,401,000 after buying an additional 766,056 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

EOG Resources stock traded down $0.63 during midday trading on Friday, reaching $134.56. 2,268,258 shares of the stock were exchanged, compared to its average volume of 3,134,169. 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, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The firm has a market cap of $75.68 billion, a PE ratio of 10.99, a PEG ratio of 3.56 and a beta of 1.28. The company's fifty day moving average is $125.97 and its 200-day moving average is $126.04.

EOG Resources declared that its board has authorized a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership 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 given a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change 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 payout ratio is 29.31%.

Insider Transactions at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at $7,648,035.20. This trade represents a 9.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna lowered their target price on shares of EOG Resources from $159.00 to $158.00 and set a "positive" rating for the company in a report on Wednesday, September 4th. Benchmark reiterated a "hold" rating on shares of EOG Resources in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. KeyCorp decreased their price target on shares of EOG Resources from $157.00 to $150.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $142.20.

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.