Guinness Asset Management LTD Sells 7,378 Shares of EOG Resources, Inc. $EOG

Guinness Asset Management LTD lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,564 shares of the energy exploration company’s stock after selling 7,378 shares during the quarter. Guinness Asset Management LTD’s holdings in EOG Resources were worth $8,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new stake in shares of EOG Resources during the 1st quarter valued at $26,000. Saudi Central Bank purchased a new position in EOG Resources during the first quarter valued at $28,000. Caitong International Asset Management Co. Ltd lifted its position in EOG Resources by 10,950.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 219 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in EOG Resources during the second quarter valued at about $29,000. Finally, WPG Advisers LLC purchased a new stake in EOG Resources in the first quarter worth about $36,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on EOG Resources from $141.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Wells Fargo & Company lowered their price target on shares of EOG Resources from $149.00 to $127.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Evercore ISI upped their price target on shares of EOG Resources from $141.00 to $149.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $132.00 to $131.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, Raymond James Financial lifted their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus target price of $140.76.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $106.38 on Monday. The firm has a market cap of $58.08 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 8.22 and a beta of 0.74. The firm has a fifty day moving average price of $115.38 and a 200 day moving average price of $115.85. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS 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 business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the company earned $3.16 EPS. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal 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.