EOG Resources, Inc. (NYSE:EOG) Stake Reduced by Madison Asset Management LLC

Madison Asset Management LLC reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 134,581 shares of the energy exploration company's stock after selling 7,400 shares during the period. Madison Asset Management LLC's holdings in EOG Resources were worth $17,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Close Asset Management Ltd grew its position in shares of EOG Resources by 0.7% during the 1st quarter. Close Asset Management Ltd now owns 139,216 shares of the energy exploration company's stock valued at $17,859,000 after acquiring an additional 906 shares during the period. SYM FINANCIAL Corp purchased a new stake in shares of EOG Resources during the 1st quarter valued at approximately $202,000. Oak Thistle LLC purchased a new stake in shares of EOG Resources during the 1st quarter valued at approximately $403,000. KLP Kapitalforvaltning AS lifted its stake in shares of EOG Resources by 0.5% during the 1st quarter. KLP Kapitalforvaltning AS now owns 265,003 shares of the energy exploration company's stock valued at $33,984,000 after buying an additional 1,300 shares in the last quarter. Finally, PFG Advisors lifted its stake in shares of EOG Resources by 26.0% during the 1st quarter. PFG Advisors now owns 15,364 shares of the energy exploration company's stock valued at $1,970,000 after buying an additional 3,174 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Down 0.6%

Shares of EOG Resources stock traded down $0.68 during mid-day trading on Friday, hitting $118.38. 1,785,276 shares of the stock were exchanged, compared to its average volume of 3,706,133. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a market capitalization of $64.61 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 9.13 and a beta of 0.76. The company has a 50-day simple moving average of $118.02 and a 200 day simple moving average of $121.10. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business earned $2.82 EPS. The company's revenue for the quarter was down 7.4% on a year-over-year basis. Research 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 given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is presently 37.85%.

Analyst Ratings Changes

Several research firms have recently weighed in on EOG. Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Raymond James Financial boosted their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday. Stephens initiated coverage on shares of EOG Resources in a research report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target for the company. Finally, KeyCorp dropped their target price on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

Insider Buying and Selling

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