EOG Resources, Inc. (NYSE:EOG) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD decreased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,847 shares of the energy exploration company's stock after selling 13,996 shares during the period. 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 institutional investors have also recently added to or reduced their stakes in EOG. Northwest Investment Counselors LLC purchased a new position in EOG Resources in the third quarter valued at about $26,000. Decker Retirement Planning Inc. purchased a new position in EOG Resources in the 4th quarter valued at approximately $27,000. Eastern Bank acquired a new position in EOG Resources during the third quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in EOG Resources during the third quarter worth $31,000. Finally, HM Payson & Co. boosted its position in EOG Resources by 203.7% during the third quarter. HM Payson & Co. now owns 328 shares of the energy exploration company's stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 43,532 shares of the company's stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 42,703 shares of the company's stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EOG shares. Barclays cut their price target on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Piper Sandler cut their target price on shares of EOG Resources from $149.00 to $140.00 and set a "neutral" rating for the company in a research report 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 price target on the stock in a research report on Friday, January 3rd. KeyCorp reduced their target price on EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Finally, Bank of America reissued a "neutral" rating and issued a $144.00 price target (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Thirteen 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $143.48.

EOG Resources Trading Down 1.0 %

EOG Resources stock traded down $1.35 during midday trading on Monday, reaching $136.70. The stock had a trading volume of 2,837,860 shares, compared to its average volume of 2,785,113. The stock has a market capitalization 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 debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock's 50-day simple moving average is $128.96 and its 200 day simple moving average is $127.07. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources announced that its board has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's payout ratio is presently 31.40%.

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.