Renaissance Group LLC Trims Stake in EOG Resources, Inc. (NYSE:EOG)

Renaissance Group LLC lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 94.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,252 shares of the energy exploration company's stock after selling 247,030 shares during the quarter. Renaissance Group LLC's holdings in EOG Resources were worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Financial Life Planners bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd boosted its stake in EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company's stock worth $25,000 after buying an additional 121 shares during the period. Mainstream Capital Management LLC bought a new position in EOG Resources during the fourth quarter valued at $25,000. Decker Retirement Planning Inc. purchased a new stake in shares of EOG Resources in the fourth quarter valued at $27,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of EOG Resources in the 4th quarter worth about $27,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of EOG Resources from $142.00 to $136.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Williams Trading set a $154.00 price target on EOG Resources in a research note on Wednesday, March 5th. Scotiabank raised EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their price objective for the company from $150.00 to $130.00 in a research report on Friday. Mizuho restated a "neutral" rating and issued a $140.00 price target (down from $148.00) on shares of EOG Resources in a report on Tuesday, March 25th. Finally, Barclays decreased their price objective on shares of EOG Resources from $146.00 to $144.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.19.

EOG Resources Stock Down 1.4 %

Shares of EOG traded down $1.51 during mid-day trading on Monday, hitting $107.03. 979,142 shares of the company traded hands, compared to its average volume of 3,676,837. The business has a 50 day moving average of $124.28 and a 200 day moving average of $127.02. The company has a market capitalization of $59.03 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. 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, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. Equities research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Wednesday, April 16th. EOG Resources's payout ratio is 34.73%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares of the company's stock, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company's stock.

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.