Wells Fargo & Company MN Reduces Holdings in EOG Resources, Inc. (NYSE:EOG)

Wells Fargo & Company MN reduced its position in EOG Resources, Inc. (NYSE:EOG) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,284,437 shares of the energy exploration company’s stock after selling 123,437 shares during the period. Wells Fargo & Company MN’s holdings in EOG Resources were worth $525,186,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after purchasing an additional 781,282 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of EOG Resources by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after buying an additional 234,067 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of EOG Resources by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after buying an additional 365,115 shares during the period. Franklin Resources Inc. grew its holdings in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after buying an additional 2,076,134 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in EOG Resources by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after acquiring an additional 214,497 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EOG. JPMorgan Chase & Co. lowered their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. UBS Group lowered their price objective on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Mizuho reaffirmed a “neutral” rating and issued a $140.00 target price (down previously from $148.00) on shares of EOG Resources in a report on Tuesday, March 25th. Finally, Raymond James raised their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus price target of $144.67.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 directly owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. The trade was a 7.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

EOG Resources Stock Down 7.9 %

Shares of NYSE EOG opened at $110.39 on Friday. 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 firm’s 50-day moving average is $127.14 and its two-hundred day moving average is $127.80. EOG Resources, Inc. has a 12-month low of $109.20 and a 12-month high of $139.67. The company has a market capitalization of $60.88 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s payout ratio is 34.73%.

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.