Madison Asset Management LLC Has $9.34 Million Stake in EOG Resources, Inc. $EOG

Key Points

• Madison Asset Management reduced its EOG Resources stake by 19.5% in the fourth quarter, selling 21,555 shares and ending with 88,985 shares valued at about $9.34 million.
• EOG Resources recently reported strong quarterly results, with EPS of $3.41 and revenue of $6.92 billion, both above analyst expectations; revenue also rose 22.1% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $154.21, while the company also announced a quarterly dividend of $1.02 per share.

Madison Asset Management LLC trimmed its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,985 shares of the energy exploration company's stock after selling 21,555 shares during the period. Madison Asset Management LLC's holdings in EOG Resources were worth $9,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bollard Group LLC increased its holdings in EOG Resources by 0.8% in the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock valued at $1,317,000 after purchasing an additional 93 shares during the period. Hardy Reed LLC increased its holdings in EOG Resources by 4.5% in the third quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company's stock valued at $254,000 after purchasing an additional 97 shares during the period. RKL Wealth Management LLC increased its holdings in EOG Resources by 0.5% in the third quarter. RKL Wealth Management LLC now owns 21,235 shares of the energy exploration company's stock valued at $2,381,000 after purchasing an additional 98 shares during the period. CoreFirst Bank & Trust increased its holdings in EOG Resources by 18.5% in the third quarter. CoreFirst Bank & Trust now owns 640 shares of the energy exploration company's stock valued at $72,000 after purchasing an additional 100 shares during the period. Finally, Ethos Financial Group LLC increased its holdings in EOG Resources by 2.5% in the fourth quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock valued at $439,000 after purchasing an additional 100 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on EOG shares. Wolfe Research increased their price target on EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. UBS Group upped their target price on EOG Resources from $141.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Wall Street Zen raised EOG Resources from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Citigroup lowered their target price on EOG Resources from $150.00 to $142.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Finally, Morgan Stanley boosted their price target on EOG Resources from $128.00 to $155.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $154.21.

Key Headlines Impacting EOG Resources

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Goldman Sachs raised its price target on EOG Resources to $139 from $135 while keeping a neutral rating, signaling modest upside expectations and reinforcing investor interest in the stock. Goldman Sachs adjusts price target on EOG Resources to $139 from $135, maintains neutral rating
• Positive Sentiment: New articles from Zacks and MSN highlighted EOG as a top long-term momentum stock, which can attract momentum and growth investors looking for strong energy names. Why EOG Resources (EOG) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: EOG Resources announced it will present at the Bernstein Strategic Decisions Conference on May 27, keeping the company in front of investors but not changing fundamentals by itself. EOG Resources to Present at Upcoming Conference
• Neutral Sentiment: Broader energy-sector news, including APA’s earnings beat and SM Energy’s strong run, may be helping sentiment across oil and gas stocks, though these reports are not specific to EOG’s operations. APA Corporation Q1 Earnings Beat Estimates on Higher Oil Prices

EOG Resources Price Performance

EOG Resources stock opened at $134.96 on Thursday. The stock has a market capitalization of $71.88 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.67 and a beta of 0.27. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The stock's 50 day moving average price is $136.39 and its two-hundred day moving average price is $119.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business's revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.87 EPS. On average, equities analysts predict that EOG Resources, Inc. will post 14.76 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. 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 is 40.16%.

Insider Transactions at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of the 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 transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at $14,038,449.84. This represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the 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 in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,230 shares of company stock worth $2,522,568 in the last three months. Insiders own 0.14% of the company's stock.

EOG Resources Profile

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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