EOG Resources, Inc. (NYSE:EOG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 76.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,528,167 shares of the energy exploration company’s stock after selling 14,821,048 shares during the period. Wellington Management Group LLP’s holdings in EOG Resources were worth $556,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EOG. DRW Securities LLC lifted its holdings in shares of EOG Resources by 98.6% in the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock valued at $3,299,000 after buying an additional 13,324 shares during the period. Caprock Group LLC lifted its holdings in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock valued at $1,489,000 after acquiring an additional 862 shares during the period. University of Texas Texas AM Investment Management Co. boosted its position in EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after purchasing an additional 10,618 shares in the last quarter. KBC Group NV grew its stake in shares of EOG Resources by 11.4% during the 3rd quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock worth $14,645,000 after purchasing an additional 12,210 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of EOG Resources by 44.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock valued at $1,303,000 after purchasing an additional 3,251 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EOG has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Susquehanna dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. KeyCorp cut their price target on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI lowered their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources has an average rating of “Hold” and an average target price of $144.20.

EOG Resources Trading Down 1.7 %

Shares of EOG Resources stock opened at $127.81 on Friday. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market cap of $71.89 billion, a P/E ratio of 10.29, a P/E/G ratio of 3.44 and a beta of 1.29. The stock’s 50 day simple moving average is $129.26 and its 200-day simple moving average is $126.34.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.975 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

EOG Resources announced that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.