EOG Resources, Inc. $EOG Position Trimmed by Primecap Management Co. CA

Key Points

• Primecap Management trimmed its EOG Resources position by 1.1% in the second quarter, selling 18,100 shares and retaining 1.58 million shares valued at approximately $205.2 million. Institutional investors collectively own 89.91% of the company.
• EOG reported strong quarterly results, with earnings of $5.07 per share and revenue of $8.62 billion, exceeding analyst estimates; revenue increased 57.4% year over year.
• The company declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.22.

Primecap Management Co. CA decreased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,581,562 shares of the energy exploration company's stock after selling 18,100 shares during the period. Primecap Management Co. CA owned about 0.30% of EOG Resources worth $205,176,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EOG. Acumen Wealth Advisors LLC purchased a new position in EOG Resources during the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. increased its stake in EOG Resources by 225.5% in the 1st 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. Prosperity Bancshares Inc purchased a new stake in EOG Resources in the 4th quarter worth approximately $26,000. Nemes Rush Group LLC purchased a new stake in EOG Resources in the 4th quarter worth approximately $30,000. Finally, Financial Life Planners acquired a new stake in shares of EOG Resources during the 1st quarter valued at $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

EOG Resources Stock Performance

EOG stock opened at $146.90 on Wednesday. The firm has a 50 day moving average of $139.41 and a two-hundred day moving average of $135.70. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67. The company has a market capitalization of $77.05 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.25. 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 released its quarterly 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 business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. EOG Resources's revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 EPS. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.87 EPS for the current fiscal year.

EOG Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

EOG has been the topic of several research analyst reports. Barclays set a $147.00 price target on shares of EOG Resources and gave the company an "equal weight" rating in a report on Monday, August 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of EOG Resources in a report on Friday, August 7th. Sanford C. Bernstein reduced their price objective on EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research report on Wednesday, May 20th. Raymond James Financial restated a "strong-buy" rating and issued a $183.00 target price on shares of EOG Resources in a research note on Monday, August 3rd. Finally, Morgan Stanley set a $157.00 target price on EOG Resources and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. One research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $156.22.

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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