King Luther Capital Management Corp Sells 40,377 Shares of EOG Resources, Inc. $EOG

Key Points

• King Luther Capital Management cut its EOG Resources stake by 10.5% in the fourth quarter, selling 40,377 shares and leaving it with 342,996 shares valued at about $36.0 million.
• EOG reported strong quarterly results, with EPS of $3.41 beating expectations and revenue of $6.92 billion topping forecasts; revenue also rose 22.1% year over year.
• The company announced a quarterly dividend of $1.02 per share, or $4.08 annualized, for a yield of about 3.0%, while analysts currently rate the stock a Moderate Buy with a consensus target price of $156.11.

King Luther Capital Management Corp trimmed its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 342,996 shares of the energy exploration company's stock after selling 40,377 shares during the period. King Luther Capital Management Corp owned 0.06% of EOG Resources worth $36,018,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EOG. Capital World Investors grew its stake in EOG Resources by 1.4% during the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock valued at $6,156,495,000 after acquiring an additional 782,426 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in EOG Resources during the third quarter valued at $87,193,000. Northwestern Mutual Wealth Management Co. grew its stake in EOG Resources by 2,410.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 719,426 shares of the energy exploration company's stock valued at $75,547,000 after acquiring an additional 690,765 shares in the last quarter. TD Asset Management Inc grew its stake in EOG Resources by 288.1% during the third quarter. TD Asset Management Inc now owns 892,482 shares of the energy exploration company's stock valued at $100,065,000 after acquiring an additional 662,539 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in EOG Resources by 140.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,102,999 shares of the energy exploration company's stock valued at $115,826,000 after acquiring an additional 644,569 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares of the company's stock, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction dated Tuesday, March 31st. The stock was 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 of the company's stock, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,230 shares of company stock valued at $2,272,568 over the last three months. Corporate insiders own 0.14% of the company's stock.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $136.43 on Wednesday. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The stock has a market capitalization of $72.67 billion, a P/E ratio of 13.43 and a beta of 0.27. The firm has a fifty day simple moving average of $138.13 and a two-hundred day simple moving average of $121.26. 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 issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period last year, the company posted $2.87 EPS. The business's revenue was up 22.1% on a year-over-year basis. On average, analysts expect that EOG Resources, Inc. will post 15.67 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

Analyst Ratings Changes

Several research firms recently weighed in on EOG. Wall Street Zen raised shares of EOG Resources from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Morgan Stanley raised their target price on shares of EOG Resources from $155.00 to $160.00 and gave the company an "equal weight" rating in a research note on Thursday, May 21st. UBS Group raised their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. The Goldman Sachs Group raised their target price on shares of EOG Resources from $135.00 to $139.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. Finally, Sanford C. Bernstein cut their target price on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.11.

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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