Assenagon Asset Management S.A. Lowers Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Assenagon Asset Management S.A. lowered its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 66.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,781 shares of the energy exploration company's stock after selling 459,815 shares during the quarter. Assenagon Asset Management S.A.'s holdings in EOG Resources were worth $30,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Stephens Inc. AR grew its stake in shares of EOG Resources by 7.4% in the fourth quarter. Stephens Inc. AR now owns 5,458 shares of the energy exploration company's stock valued at $669,000 after buying an additional 375 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of EOG Resources by 22.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,425 shares of the energy exploration company's stock valued at $1,400,000 after buying an additional 2,117 shares in the last quarter. Savant Capital LLC grew its stake in shares of EOG Resources by 33.0% in the fourth quarter. Savant Capital LLC now owns 19,880 shares of the energy exploration company's stock valued at $2,437,000 after buying an additional 4,933 shares in the last quarter. Focus Financial Network Inc. grew its stake in EOG Resources by 8.7% during the 4th quarter. Focus Financial Network Inc. now owns 1,882 shares of the energy exploration company's stock worth $231,000 after purchasing an additional 151 shares in the last quarter. Finally, Essex Financial Services Inc. grew its stake in EOG Resources by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company's stock worth $753,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on EOG Resources from $150.00 to $146.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Scotiabank raised EOG Resources from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. KeyCorp lowered their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Mizuho lowered their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Eleven 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

EOG Resources Price Performance

Shares of NYSE EOG traded up $4.93 during trading on Friday, reaching $125.52. The company had a trading volume of 7,913,403 shares, compared to its average volume of 3,329,181. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a market capitalization of $68.50 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The stock has a 50-day moving average price of $111.99 and a two-hundred day moving average price of $121.83. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's payout ratio is currently 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares of the company's stock, valued at $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company's stock.

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.