Douglas Lane & Associates LLC Reduces Stock Holdings in EOG Resources, Inc. $EOG

Douglas Lane & Associates LLC reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401,058 shares of the energy exploration company's stock after selling 27,490 shares during the quarter. Douglas Lane & Associates LLC owned 0.08% of EOG Resources worth $55,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EOG. SJS Investment Consulting Inc. lifted its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock valued at $26,000 after buying an additional 124 shares during the period. Byrne Asset Management LLC raised its holdings in EOG Resources by 469.4% in the 3rd quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company's stock valued at $29,000 after acquiring an additional 169 shares in the last quarter. Financial Life Planners bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $30,000. Wedbush Fund Advisers LLC acquired a new stake in shares of EOG Resources during the 2nd quarter worth approximately $31,000. Finally, Global Assets Advisory LLC bought a new stake in shares of EOG Resources during the first quarter valued at approximately $37,000. 89.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EOG shares. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company reiterated an "overweight" rating and set a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Susquehanna reissued 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. UBS Group reissued a "buy" rating and issued a $186.00 price target (up from $183.00) on shares of EOG Resources in a research report on Friday. Finally, Morgan Stanley set a $157.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eighteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of "Hold" and a consensus target price of $159.23.

Insider Activity at EOG Resources

In related news, EVP Michael Donaldson sold 7,336 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the transaction, the executive vice president owned 100,558 shares in the company, valued at $14,882,584. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ezra Yacob sold 35,942 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,317 shares of company stock valued at $7,823,480 over the last quarter. Corporate insiders own 0.14% of the company's stock.

EOG Resources Price Performance

EOG traded up $0.46 during trading on Friday, hitting $148.97. The company's stock had a trading volume of 907,556 shares, compared to its average volume of 4,067,102. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $78.14 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.36. The firm's 50 day moving average price is $144.51 and its two-hundred day moving average price is $139.91. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $154.16.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company posted $2.32 earnings per share. Sell-side analysts forecast that EOG Resources, Inc. will post 17.07 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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

EOG Resources Profile

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.

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.