Cullen Capital Management LLC Lowers Holdings in EOG Resources, Inc. (NYSE:EOG)

Cullen Capital Management LLC reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 541,575 shares of the energy exploration company’s stock after selling 19,218 shares during the period. Cullen Capital Management LLC’s holdings in EOG Resources were worth $66,386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Wealthfront Advisers LLC grew its stake in EOG Resources by 4,642.2% during the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock valued at $349,627,000 after acquiring an additional 2,792,092 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of EOG Resources in the fourth quarter worth about $171,193,000. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after buying an additional 781,282 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in EOG Resources by 577.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock valued at $85,389,000 after buying an additional 593,823 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Bank of America restated a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Truist Financial lifted their price target on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Morgan Stanley decreased their price objective on EOG Resources from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $144.67.

EOG Resources Price Performance

EOG Resources stock 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 stock has a market cap of $60.88 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. The firm has a 50-day moving average of $127.14 and a two-hundred day moving average of $127.80. EOG Resources, Inc. has a 1 year low of $109.20 and a 1 year high of $139.67.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. On average, research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

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

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the transaction, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. This trade represents a 7.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

EOG Resources Company Profile

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.