EOG Resources, Inc. (NYSE:EOG) Stake Trimmed by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 32.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,058,263 shares of the energy exploration company’s stock after selling 1,469,904 shares during the quarter. Wellington Management Group LLP owned 0.55% of EOG Resources worth $374,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EOG. O Shaughnessy Asset Management LLC lifted its position in shares of EOG Resources by 78.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 190,287 shares of the energy exploration company’s stock valued at $23,325,000 after acquiring an additional 83,695 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of EOG Resources by 6.2% in the fourth quarter. Schroder Investment Management Group now owns 1,234,454 shares of the energy exploration company’s stock worth $148,850,000 after buying an additional 71,996 shares during the period. Allianz SE purchased a new position in shares of EOG Resources during the fourth quarter valued at $2,593,000. Transamerica Financial Advisors Inc. raised its position in EOG Resources by 9.3% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 6,604 shares of the energy exploration company’s stock valued at $810,000 after buying an additional 564 shares during the period. Finally, Allstate Corp acquired a new stake in EOG Resources during the 4th quarter worth about $2,071,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

NYSE:EOG opened at $129.26 on Wednesday. The firm’s 50-day moving average is $127.93 and its 200-day moving average is $127.92. The company has a market cap of $71.60 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 3.58 and a beta of 1.25. 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 $115.78 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last issued its earnings results 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. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Equities research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.02%. EOG Resources’s payout ratio is presently 34.73%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EOG. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Williams Trading set a $154.00 target price on shares of EOG Resources in a research report on Wednesday, March 5th. Morgan Stanley lowered their target price on EOG Resources from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Mizuho restated a “neutral” rating and set a $140.00 price target (down previously from $148.00) on shares of EOG Resources in a research note on Tuesday, March 25th. Finally, Piper Sandler decreased their price target on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $144.67.

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.