LGT Fund Management Co Ltd. Sells 25,900 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• LGT Fund Management Co Ltd. significantly reduced its stake in EOG Resources by 84.5% during the first quarter, now holding only 4,741 shares valued at approximately $608,000.
• EOG Resources recently increased its quarterly dividend to $1.02, resulting in an annualized yield of 3.5% for shareholders.
• Analyst ratings vary for EOG Resources, with twelve analysts$140.71.

LGT Fund Management Co Ltd. trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 84.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,741 shares of the energy exploration company's stock after selling 25,900 shares during the period. LGT Fund Management Co Ltd.'s holdings in EOG Resources were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EOG. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new position in EOG Resources during the 1st quarter valued at about $34,000. Ameriflex Group Inc. acquired a new position in EOG Resources during the 4th quarter valued at about $36,000. 10Elms LLP acquired a new position in EOG Resources during the 4th quarter valued at about $44,000. Finally, Stone House Investment Management LLC acquired a new position in EOG Resources during the 1st quarter valued at about $48,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on EOG. Stephens assumed coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 target price on the stock. Barclays raised their target price on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Royal Bank Of Canada decreased their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Finally, Bank of America cut their price objective on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $140.71.

EOG Resources Stock Performance

Shares of NYSE:EOG traded down $0.73 during trading on Friday, reaching $119.06. The stock had a trading volume of 2,944,305 shares, compared to its average volume of 3,639,455. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market capitalization of $65.01 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 9.19 and a beta of 0.80. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $120.19 and a two-hundred day simple moving average of $119.56.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) 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 analyst estimates of $5.45 billion. During the same quarter in the previous year, the firm posted $3.16 earnings per share. EOG Resources's revenue was down 9.1% compared to the same quarter last year. As a group, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.4%. EOG Resources's payout ratio is presently 37.90%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction on 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. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

About EOG Resources

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.