Davidson Investment Advisors Decreases Holdings in EOG Resources, Inc. $EOG

Key Points

• Davidson Investment Advisors reduced its EOG Resources stake by 4.9% in the second quarter, selling 8,122 shares and retaining 159,172 shares valued at approximately $20.6 million. Institutional investors collectively own 89.91% of the company.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates, while revenue rose 57.4% year over year to $8.62 billion. The company also declared a quarterly dividend of $1.02, or $4.08 annually, yielding about 2.8%.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $156.33; targets range from $147 to $175. EOG shares recently opened at $143.53, below the consensus target.

Davidson Investment Advisors trimmed its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 159,172 shares of the energy exploration company's stock after selling 8,122 shares during the quarter. Davidson Investment Advisors' holdings in EOG Resources were worth $20,649,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in EOG Resources during the 2nd quarter valued at about $5,905,587,000. State Street Corp lifted its position in EOG Resources by 0.3% in the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock valued at $3,209,365,000 after purchasing an additional 100,080 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock valued at $2,099,028,000 after purchasing an additional 371,548 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of EOG Resources by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company's stock valued at $1,364,309,000 after purchasing an additional 95,260 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of EOG Resources by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,507,760 shares of the energy exploration company's stock valued at $683,382,000 after purchasing an additional 122,112 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays set a $147.00 target price on shares of EOG Resources and gave the stock an "equal weight" rating in a report on Monday, August 17th. Capital One Financial cut shares of EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price target for the company. in a research report on Wednesday. Mizuho set a $157.00 price target on shares of EOG Resources and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Stephens decreased their price objective on shares of EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $156.33.

EOG Resources Stock Performance

NYSE:EOG opened at $143.53 on Friday. The stock has a market cap of $75.29 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. The firm's fifty day simple moving average is $140.20 and its 200 day simple moving average is $136.19. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $153.67. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $8.04 billion. During the same period in the prior year, the business earned $2.32 EPS. The company's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, research analysts predict that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio is presently 31.75%.

EOG Resources Company 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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