Allstate Corp Raises Position in EOG Resources, Inc. $EOG

Key Points

• Allstate Corp more than doubled its stake in EOG Resources during the fourth quarter, increasing holdings by 104.6% to 41,983 shares valued at about $4.41 million.
• Insiders have been selling shares: COO Jeffrey R. Leitzell and CFO Ann D. Janssen both reduced their positions, and insiders sold 16,230 shares over the last 90 days.
• EOG beat earnings expectations in its latest quarter, posting $3.41 EPS on $6.92 billion in revenue, while also announcing a quarterly dividend of $1.02 per share.

Allstate Corp grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 104.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,983 shares of the energy exploration company's stock after purchasing an additional 21,461 shares during the quarter. Allstate Corp's holdings in EOG Resources were worth $4,409,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Bollard Group LLC lifted its stake in shares of EOG Resources by 0.8% during the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock worth $1,317,000 after purchasing an additional 93 shares during the period. Hardy Reed LLC increased its holdings in shares of EOG Resources by 4.5% during the 3rd quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company's stock worth $254,000 after buying an additional 97 shares during the last quarter. RKL Wealth Management LLC increased its holdings in shares of EOG Resources by 0.5% during the 3rd quarter. RKL Wealth Management LLC now owns 21,235 shares of the energy exploration company's stock worth $2,381,000 after buying an additional 98 shares during the last quarter. CoreFirst Bank & Trust increased its holdings in shares of EOG Resources by 18.5% during the 3rd quarter. CoreFirst Bank & Trust now owns 640 shares of the energy exploration company's stock worth $72,000 after buying an additional 100 shares during the last quarter. Finally, Ethos Financial Group LLC increased its holdings in shares of EOG Resources by 2.5% during the 4th quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock worth $439,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the transaction, the chief operating officer owned 88,045 shares of the company's stock, valued at $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ann D. Janssen sold 4,161 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. This represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,230 shares of company stock worth $2,272,568 in the last ninety days. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EOG shares. Wells Fargo & Company set a $196.00 price objective on EOG Resources and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Stephens dropped their price objective on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. BMO Capital Markets upped their price objective on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. Williams Trading set a $177.00 price objective on EOG Resources in a report on Monday, April 20th. Finally, Barclays upped their price objective on EOG Resources from $140.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and a consensus price target of $156.11.

EOG Resources Stock Down 3.4%

Shares of NYSE EOG opened at $136.43 on Wednesday. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The company has a market cap of $72.67 billion, a P/E ratio of 13.43 and a beta of 0.27. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $138.13 and a 200 day moving average price of $121.26.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company's revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $2.87 earnings per share. Research analysts anticipate that EOG Resources, Inc. will post 15.67 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

EOG Resources Profile

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.