EOG Resources, Inc. $EOG Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its holdings in EOG Resources by 2.0%, maintaining 146,044 shares valued at approximately $18.73 million.
• EOG Resources reported $2.32 earnings per share for the last quarter, which exceeded the consensus estimate of $2.14, but its revenue declined by 9.1% year-over-year.
• The company has declared a quarterly dividend of $1.02, an increase from the previous dividend of $0.98, with a dividend yield of 3.4% and a payout ratio of 39.65%.

MetLife Investment Management LLC cut its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,044 shares of the energy exploration company's stock after selling 2,936 shares during the quarter. MetLife Investment Management LLC's holdings in EOG Resources were worth $18,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after purchasing an additional 348,895 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares during the period. Northern Trust Corp boosted its stake in shares of EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after purchasing an additional 358,916 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of EOG Resources by 1.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after purchasing an additional 60,454 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of EOG Resources by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,911,741 shares of the energy exploration company's stock valued at $629,789,000 after purchasing an additional 36,777 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on EOG. Jefferies Financial Group reiterated a "buy" rating and set a $148.00 price objective (up from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Mizuho reduced their price objective on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Melius Research began coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They set a "buy" rating and a $173.00 price objective on the stock. Finally, Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $143.61.

EOG Resources Stock Performance

Shares of EOG stock traded up $0.55 during trading hours on Friday, reaching $124.89. The stock had a trading volume of 1,737,955 shares, compared to its average volume of 2,737,268. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The firm has a 50-day simple moving average of $120.06 and a 200-day simple moving average of $118.95. The firm has a market capitalization of $68.19 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 9.50 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same quarter last year, the company earned $3.16 EPS. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.