Cornercap Investment Counsel Inc. Sells 11,595 Shares of EOG Resources, Inc. (NYSE:EOG)

Cornercap Investment Counsel Inc. cut its position in EOG Resources, Inc. (NYSE:EOG) by 49.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,733 shares of the energy exploration company’s stock after selling 11,595 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in EOG Resources were worth $1,442,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EOG. UniSuper Management Pty Ltd increased its stake in shares of EOG Resources by 228.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock worth $1,998,000 after purchasing an additional 10,868 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its holdings in EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after acquiring an additional 10,618 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in EOG Resources by 23.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock worth $3,209,000 after purchasing an additional 4,749 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of EOG Resources by 44.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after acquiring an additional 3,251 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of EOG Resources by 67.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock valued at $107,856,000 after purchasing an additional 339,480 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Up 0.6 %

Shares of NYSE EOG opened at $135.19 on Friday. The business’s fifty day moving average price is $125.70 and its 200-day moving average price is $125.98. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The stock has a market capitalization of $76.04 billion, a PE ratio of 10.88, a P/E/G ratio of 3.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources declared that its Board of Directors has approved a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.88%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

Insider Activity at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The trade was a 9.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of research analyst reports. Susquehanna cut their target price on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley reduced their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $142.20.

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.