Cullen Capital Management LLC Has $62.27 Million Stake in EOG Resources, Inc. $EOG

Key Points

• Cullen Capital Management reduced its EOG Resources position by 1.6% in the second quarter, selling 7,666 shares. It still held 479,999 shares valued at approximately $62.27 million.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Institutional investors own 89.91% of the company.
• EOG announced a quarterly dividend of $1.02 per share, equivalent to a $4.08 annualized payout and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.22.

Cullen Capital Management LLC lowered its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 479,999 shares of the energy exploration company's stock after selling 7,666 shares during the period. Cullen Capital Management LLC owned 0.09% of EOG Resources worth $62,270,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EOG. BlackRock Inc. acquired a new position in EOG Resources in the second quarter worth $5,905,587,000. Bank of New York Mellon Corp acquired a new stake in shares of EOG Resources in the second quarter valued at $654,899,000. Deutsche Bank AG bought a new position in shares of EOG Resources in the second quarter valued at about $251,102,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in EOG Resources during the 2nd quarter worth about $168,029,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in EOG Resources by 898.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company's stock worth $205,411,000 after acquiring an additional 1,278,555 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Down 1.9%

Shares of NYSE EOG opened at $150.18 on Tuesday. The firm has a market capitalization of $78.77 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.57 and a beta of 0.25. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $153.67. The firm's 50-day moving average is $139.11 and its 200-day moving average is $135.47.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the previous year, the firm posted $2.32 earnings per share. EOG Resources's revenue for the quarter was up 57.4% compared to the same quarter last year. Equities analysts expect that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.7%. EOG Resources's payout ratio is presently 31.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EOG shares. JPMorgan Chase & Co. dropped their target price on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. Mizuho set a $157.00 price target on shares of EOG Resources and gave the company a "neutral" rating in a report on Wednesday, May 27th. Raymond James Financial restated a "strong-buy" rating and issued a $183.00 price objective on shares of EOG Resources in a research report on Monday, August 3rd. Freedom Capital downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Barclays set a $147.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $156.22.

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.

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