Guinness Asset Management LTD Sells 17,905 Shares of EOG Resources, Inc. $EOG

Guinness Asset Management LTD reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 19.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,942 shares of the energy exploration company’s stock after selling 17,905 shares during the quarter. Guinness Asset Management LTD’s holdings in EOG Resources were worth $9,575,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Granite Harbor Advisors Inc. grew its stake in shares of EOG Resources by 3.2% in the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company’s stock worth $389,000 after acquiring an additional 94 shares during the period. FSM Wealth Advisors LLC lifted its holdings in shares of EOG Resources by 6.2% in the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company’s stock worth $208,000 after buying an additional 95 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of EOG Resources by 1.6% in the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company’s stock worth $803,000 after buying an additional 97 shares in the last quarter. Bank of Jackson Hole Trust lifted its holdings in shares of EOG Resources by 1.6% in the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company’s stock worth $791,000 after buying an additional 100 shares in the last quarter. Finally, Malaga Cove Capital LLC raised its stake in EOG Resources by 2.9% during the first quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company’s stock valued at $449,000 after purchasing an additional 100 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of recent research reports. Barclays upped their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Susquehanna upped their price target on shares of EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Stephens assumed coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They issued an “equal weight” rating and a $137.00 price objective for the company. Argus lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. Finally, KeyCorp decreased their price target on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.52.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares of the company’s stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by insiders.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $120.00 on Friday. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company’s 50 day moving average is $119.92 and its 200 day moving average is $118.27. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market cap of $65.52 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 9.21 and a beta of 0.85.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the company earned $3.16 EPS. EOG Resources’s quarterly revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

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.