EOG Resources, Inc. $EOG Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its EOG Resources stake by 70.8% in the first quarter, selling 781,405 shares and leaving it with 321,594 shares worth about $46.5 million.
• EOG Resources reported strong first-quarter results, with EPS of $3.41 beating estimates and revenue of $6.92 billion topping expectations; revenue rose 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, implying an annualized dividend of $4.08 and a 3.1% yield.

Assenagon Asset Management S.A. decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 70.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,594 shares of the energy exploration company's stock after selling 781,405 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of EOG Resources worth $46,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EOG. Franklin Resources Inc. increased its position in shares of EOG Resources by 24.2% during the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company's stock valued at $676,627,000 after purchasing an additional 1,257,110 shares during the period. First Trust Advisors LP lifted its holdings in shares of EOG Resources by 70.5% in the fourth quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company's stock valued at $312,711,000 after buying an additional 1,231,366 shares during the period. Marshall Wace LLP boosted its stake in EOG Resources by 474.7% during the fourth quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company's stock valued at $138,430,000 after buying an additional 1,088,867 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in EOG Resources by 23.9% during the fourth quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company's stock worth $490,394,000 after acquiring an additional 901,897 shares during the period. Finally, Capital World Investors raised its position in EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock worth $6,156,495,000 after acquiring an additional 782,426 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on EOG. The Goldman Sachs Group boosted their target price on shares of EOG Resources from $135.00 to $139.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Jefferies Financial Group lifted their price target on shares of EOG Resources from $146.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. JPMorgan Chase & Co. upped their price target on EOG Resources from $145.00 to $148.00 in a report on Thursday, May 7th. BMO Capital Markets increased their price objective on EOG Resources from $140.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, April 1st. Finally, Mizuho set a $157.00 price objective on EOG Resources and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $156.00.

EOG Resources Price Performance

EOG opened at $133.64 on Friday. The stock has a fifty day moving average of $135.81 and a 200-day moving average of $125.50. The firm has a market capitalization of $71.18 billion, a P/E ratio of 13.15 and a beta of 0.25. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the prior year, the business earned $2.87 EPS. The business's revenue for the quarter was up 22.1% on a year-over-year basis. Equities analysts forecast that EOG Resources, Inc. will post 16.64 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. EOG Resources's dividend payout ratio (DPR) is 40.16%.

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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