Korea Investment CORP Lowers Position in EOG Resources, Inc. $EOG

Korea Investment CORP lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 6.1% in the third quarter, HoldingsChannel.com reports. The fund owned 551,683 shares of the energy exploration company’s stock after selling 35,801 shares during the period. Korea Investment CORP’s holdings in EOG Resources were worth $61,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EOG. Sivia Capital Partners LLC purchased a new position in EOG Resources in the 2nd quarter worth approximately $258,000. Vestmark Advisory Solutions Inc. increased its holdings in shares of EOG Resources by 54.3% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 3,096 shares of the energy exploration company’s stock worth $370,000 after buying an additional 1,089 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of EOG Resources by 11.3% during the 2nd quarter. Wedbush Securities Inc. now owns 13,409 shares of the energy exploration company’s stock valued at $1,604,000 after buying an additional 1,366 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of EOG Resources by 45.0% during the 2nd quarter. Penserra Capital Management LLC now owns 3,713 shares of the energy exploration company’s stock valued at $443,000 after buying an additional 1,152 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of EOG Resources by 0.4% during the 2nd quarter. Metis Global Partners LLC now owns 29,830 shares of the energy exploration company’s stock worth $3,568,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the subject of several research reports. BMO Capital Markets upped their target price on shares of EOG Resources from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Roth Mkm restated a “neutral” rating and set a $110.00 price target on shares of EOG Resources in a research report on Wednesday, February 25th. Barclays dropped their price target on EOG Resources from $136.00 to $133.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 21st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $126.00 price objective (down from $144.00) on shares of EOG Resources in a report on Monday, January 5th. Finally, Susquehanna decreased their price objective on EOG Resources from $151.00 to $144.00 and set a “positive” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $135.31.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the transaction, the chief operating officer directly owned 61,481 shares of the company’s stock, valued at approximately $7,685,125. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 7,774 shares of company stock worth $945,895 over the last 90 days. 0.13% of the stock is currently owned by insiders.

EOG Resources Trading Up 0.5%

Shares of EOG opened at $131.74 on Monday. The stock has a market capitalization of $70.68 billion, a P/E ratio of 14.46 and a beta of 0.44. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $134.00. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $113.78 and a two-hundred day simple moving average of $112.08.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The company had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the firm earned $2.74 earnings per share. EOG Resources’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, April 16th. EOG Resources’s dividend payout ratio (DPR) is currently 44.79%.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.