Bank of New York Mellon Corp Sells 81,964 Shares of EOG Resources, Inc. (NYSE:EOG)

Bank of New York Mellon Corp lowered its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,044,437 shares of the energy exploration company's stock after selling 81,964 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of EOG Resources worth $518,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in shares of EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares during the period. Geode Capital Management LLC lifted its stake in EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock worth $1,541,282,000 after purchasing an additional 234,067 shares during the last quarter. Northern Trust Corp lifted its stake in EOG Resources by 2.9% during the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock worth $701,036,000 after purchasing an additional 159,216 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of EOG Resources by 6.9% in the 4th quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company's stock valued at $696,990,000 after purchasing an additional 365,115 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of EOG Resources by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,874,964 shares of the energy exploration company's stock worth $597,476,000 after buying an additional 50,896 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Trading Down 2.7%

EOG stock traded down $3.38 on Monday, reaching $119.77. The company's stock had a trading volume of 3,691,877 shares, compared to its average volume of 3,405,812. The business has a fifty day simple moving average of $115.78 and a two-hundred day simple moving average of $121.28. The firm has a market cap of $65.37 billion, a PE ratio of 11.11, a PEG ratio of 9.94 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business's revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 EPS. As a group, research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is 36.18%.

Analysts Set New Price Targets

Several brokerages recently commented on EOG. 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. Raymond James Financial increased their price objective on EOG Resources from $148.00 to $158.00 and gave the company a "strong-buy" rating in a report on Monday, June 2nd. Mizuho cut their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. UBS Group reaffirmed a "buy" rating and set a $140.00 price target (up previously from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Finally, KeyCorp cut their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.48.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

EOG Resources 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.