44,110 EOG Resources, Inc. $EOG Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its EOG Resources stake by 5.1% in the third quarter, buying 44,110 shares to hold 904,390 shares valued at approximately $124.6 million. Institutional investors collectively own 89.91% of EOG.
• EOG shares traded up 3.5% to $157.97, near their 52-week high, after the company reported quarterly EPS of $5.07 and revenue of $8.62 billion, exceeding analyst expectations and posting 57.4% year-over-year revenue growth.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 2.6% yield. Despite some bullish analyst ratings, the consensus view remains “Hold”, with an average price target of $160.56.

Assenagon Asset Management S.A. grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 904,390 shares of the energy exploration company's stock after buying an additional 44,110 shares during the period. Assenagon Asset Management S.A. owned 0.17% of EOG Resources worth $124,589,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EOG. BlackRock Inc. bought a new position in shares of EOG Resources during the second quarter worth $5,905,587,000. Bank of New York Mellon Corp purchased a new stake in shares of EOG Resources in the second quarter valued at $654,899,000. Bank of America Corp DE bought a new stake in EOG Resources in the second quarter worth about $551,321,000. Deutsche Bank AG purchased a new position in EOG Resources during the 2nd quarter valued at $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of EOG Resources during the second quarter valued at $168,029,000. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 9,039 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the sale, the chief operating officer owned 90,790 shares of the company's stock, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Donaldson sold 7,336 shares of the business's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the sale, the executive vice president owned 100,558 shares of the company's stock, valued at $14,882,584. This represents a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,317 shares of company stock valued at $7,823,480 over the last three months. 0.14% of the stock is owned by corporate insiders.

EOG Resources Trading Up 3.5%

Shares of EOG stock opened at $157.97 on Friday. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $158.37. The company has a 50 day moving average price of $145.98 and a 200 day moving average price of $140.29. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The stock has a market capitalization of $82.86 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 0.55 and a beta of 0.36.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. During the same period last year, the firm earned $2.32 earnings per share. The company's revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts predict that EOG Resources, Inc. will post 17.48 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.6%. EOG Resources's payout ratio is presently 31.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EOG. Roth Capital reaffirmed a "neutral" rating and set a $138.00 target price on shares of EOG Resources in a research report on Wednesday, August 5th. Freedom Capital cut EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Capital One Financial lowered EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price objective on the stock. in a report on Wednesday, August 26th. Susquehanna restated a "positive" rating and issued a $170.00 target price (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Finally, UBS Group reaffirmed a "buy" rating and issued a $186.00 price objective (up from $183.00) on shares of EOG Resources in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eighteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $160.56.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG's principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.

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