EOG Resources, Inc. $EOG Shares Sold by Groupama Asset Managment

Key Points

• Groupama Asset Management reduced its stake in EOG Resources by 26.8%, selling 13,558 shares, and now holds 37,068 shares valued at approximately $4.69 million.
• EOG Resources reported earnings of $2.32 per share for the latest quarter, exceeding analysts' expectations, with quarterly revenues of $5.48 billion.
• The company announced an increase in its quarterly dividend to $1.02 per share, scheduled for payment on October 31st, representing an annualized yield of 3.5%.

Groupama Asset Managment trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 26.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,068 shares of the energy exploration company's stock after selling 13,558 shares during the period. Groupama Asset Managment's holdings in EOG Resources were worth $4,692,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in shares of EOG Resources in the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of EOG Resources in the first quarter worth $34,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources in the fourth quarter worth $36,000. 10Elms LLP acquired a new position in shares of EOG Resources in the fourth quarter worth $44,000. Finally, Stone House Investment Management LLC acquired a new position in shares of EOG Resources in the first quarter worth $48,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of EOG Resources stock traded up $2.3950 during trading on Friday, reaching $120.9050. The company's stock had a trading volume of 2,245,946 shares, compared to its average volume of 2,796,382. The company has a 50-day moving average price of $120.18 and a two-hundred day moving average price of $119.09. The firm has a market cap of $66.01 billion, a PE ratio of 11.75, a P/E/G ratio of 9.25 and a beta of 0.80. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

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

EOG Resources Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America dropped their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Stephens began coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price objective on the stock. Finally, Royal Bank Of Canada reduced their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.61.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently 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.