State of Tennessee Treasury Department cut its position in shares of EOG Resources Inc (NYSE:EOG) by 37.4% during the 4th quarter, Holdings Channel reports. The firm owned 244,038 shares of the energy exploration company’s stock after selling 145,849 shares during the period. State of Tennessee Treasury Department’s holdings in EOG Resources were worth $26,334,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in shares of EOG Resources by 178.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,112 shares of the energy exploration company’s stock valued at $108,000 after purchasing an additional 712 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of EOG Resources during the 4th quarter valued at about $123,000. Cerebellum GP LLC bought a new position in shares of EOG Resources during the 4th quarter valued at about $125,000. Fis Group Inc. bought a new position in shares of EOG Resources during the 3rd quarter valued at about $130,000. Finally, Quantbot Technologies LP bought a new position in shares of EOG Resources during the 3rd quarter valued at about $153,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.
In other EOG Resources news, CFO Timothy K. Driggers sold 8,871 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $105.45, for a total value of $935,446.95. Following the completion of the sale, the chief financial officer now owns 185,157 shares in the company, valued at approximately $19,524,805.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Gary L. Thomas sold 40,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $112.94, for a total value of $4,517,600.00. Following the completion of the sale, the president now owns 1,006,461 shares of the company’s stock, valued at approximately $113,669,705.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,934 shares of company stock valued at $7,820,085. Company insiders own 0.53% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th were issued a $0.1675 dividend. This represents a $0.67 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, January 16th. EOG Resources’s dividend payout ratio (DPR) is currently 6,700.00%.
Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on EOG Resources from $142.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Credit Suisse Group set a $126.00 price objective on EOG Resources and gave the company a “hold” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus set a $136.00 price objective on EOG Resources and gave the company a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded EOG Resources from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Monday, January 15th. Finally, BMO Capital Markets restated a “buy” rating and set a $120.00 target price on shares of EOG Resources in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. EOG Resources presently has a consensus rating of “Buy” and an average price target of $116.64.
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EOG Resources Company Profile
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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