M&T Bank Corp Decreases Holdings in EOG Resources, Inc. (NYSE:EOG)

M&T Bank Corp lessened its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 553,915 shares of the energy exploration company's stock after selling 39,589 shares during the quarter. M&T Bank Corp owned about 0.10% of EOG Resources worth $71,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Capital World Investors raised its stake in EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares in the last quarter. Geode Capital Management LLC raised its stake in EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock worth $1,541,282,000 after acquiring an additional 234,067 shares in the last quarter. Northern Trust Corp raised its stake in EOG Resources by 2.9% during the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock worth $701,036,000 after acquiring an additional 159,216 shares in the last quarter. Alliancebernstein L.P. raised its stake in EOG Resources by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company's stock worth $696,990,000 after acquiring an additional 365,115 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of EOG Resources by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,874,964 shares of the energy exploration company's stock valued at $597,476,000 after buying an additional 50,896 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

EOG has been the subject of several recent research reports. Citigroup lowered their price objective on EOG Resources from $134.00 to $125.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. UBS Group reaffirmed a "buy" rating and issued a $140.00 price objective (up previously from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Mizuho lowered their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $148.00 target price (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $139.24.

EOG Resources Stock Up 3.6%

NYSE EOG traded up $4.31 on Tuesday, reaching $123.92. The company had a trading volume of 3,753,426 shares, compared to its average volume of 3,407,196. The stock has a market capitalization of $67.63 billion, a P/E ratio of 11.50, a P/E/G ratio of 9.94 and a beta of 0.76. The company's fifty day moving average is $115.89 and its 200 day moving average is $121.29. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. EOG Resources's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's dividend payout ratio is presently 36.18%.

EOG Resources Company Profile

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.