Great Lakes Advisors LLC Reduces Stock Position in EOG Resources, Inc. $EOG

Key Points

• Great Lakes Advisors cut its EOG Resources position by 12.9% in the second quarter, selling 48,121 shares and retaining 324,801 shares valued at approximately $42.1 million. Institutional investors collectively own 89.91% of EOG’s stock.
• Wall Street’s consensus rating is “Hold”, with an average price target of $156.00. Ratings include one Strong Buy, 13 Buys, and 17 Holds.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates, while revenue rose 57.4% year over year to $8.62 billion. The company also declared a quarterly dividend of $1.02 per share, representing a 2.7% annualized yield.

Great Lakes Advisors LLC trimmed its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 324,801 shares of the energy exploration company's stock after selling 48,121 shares during the quarter. Great Lakes Advisors LLC owned about 0.06% of EOG Resources worth $42,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EOG. Vanguard Group Inc. boosted its position in EOG Resources by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock valued at $5,651,172,000 after buying an additional 446,341 shares during the last quarter. BlackRock Inc. purchased a new position in EOG Resources during the 2nd quarter worth approximately $5,905,587,000. State Street Corp lifted its stake in EOG Resources by 0.3% during the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock valued at $3,209,365,000 after acquiring an additional 100,080 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of EOG Resources by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock valued at $2,099,028,000 after acquiring an additional 371,548 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company's stock valued at $1,364,309,000 after acquiring an additional 95,260 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 2nd. JPMorgan Chase & Co. cut their price target on EOG Resources from $148.00 to $142.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Truist Financial lifted their price objective on EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a research note on Thursday, August 6th. DA Davidson boosted their price objective on EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Zacks Research downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $156.00.

EOG Resources Trading Up 1.7%

EOG stock opened at $148.68 on Wednesday. The company's 50-day simple moving average is $137.92 and its 200-day simple moving average is $134.33. 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, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The firm has a market cap of $77.99 billion, a P/E ratio of 11.57 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the previous year, the business earned $2.32 EPS. EOG Resources's revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, equities analysts forecast that EOG Resources, Inc. will post 16.43 EPS 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. Investors of record on Friday, October 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.7%. EOG Resources's dividend payout ratio (DPR) is currently 31.75%.

About EOG Resources

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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