Legal & General Group Plc lessened its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,191,621 shares of the energy exploration company's stock after selling 157,607 shares during the period. Legal & General Group Plc owned 0.61% of EOG Resources worth $414,049,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of EOG Resources in the 2nd quarter worth approximately $5,905,587,000. Bank of New York Mellon Corp bought a new position in shares of EOG Resources during the second quarter valued at approximately $654,899,000. Deutsche Bank AG purchased a new stake in EOG Resources in the second quarter worth $251,102,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in EOG Resources in the second quarter worth $168,029,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in EOG Resources by 898.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company's stock valued at $205,411,000 after acquiring an additional 1,278,555 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.
EOG Resources Stock Performance
Shares of EOG Resources stock opened at $146.90 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $77.05 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.25. The business has a fifty day simple moving average of $139.41 and a two-hundred day simple moving average of $135.70. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67.
EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company's quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.32 EPS. On average, equities analysts forecast that EOG Resources, Inc. will post 16.87 earnings per share for the current fiscal year.
EOG Resources Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources's payout ratio is presently 31.75%.
Wall Street Analyst Weigh In
Several research analysts have commented on EOG shares. Freedom Capital lowered shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Susquehanna reiterated a "positive" rating and set a $170.00 price target (up from $166.00) on shares of EOG Resources in a research report on Tuesday, July 21st. UBS Group decreased their price target on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research note on Thursday, July 2nd. Zacks Research lowered shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $193.00 price objective (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, EOG Resources presently has an average rating of "Hold" and a consensus target price of $156.22.
Check Out Our Latest Report on EOG Resources
Insiders Place Their Bets
In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the sale, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company's stock.
About EOG Resources
(
Free Report)
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.
See Also
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