PensionDanmark Pensionsforsikringsaktieselskab Sells 60,088 Shares of EOG Resources, Inc. $EOG

Key Points

• PensionDanmark cut its EOG Resources stake by 36.4% in the second quarter, selling 60,088 shares and retaining 105,214 shares valued at approximately $13.65 million.
• EOG reported quarterly EPS of $5.07, beating estimates of $4.97, while revenue reached $8.62 billion and rose 57.4% year over year.
• The company declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 3.0% yield; analysts’ consensus rating remains “Hold,” with a $156.32 average price target.

PensionDanmark Pensionsforsikringsaktieselskab reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 36.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 105,214 shares of the energy exploration company's stock after selling 60,088 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in EOG Resources were worth $13,649,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of EOG Resources by 898.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company's stock worth $205,411,000 after buying an additional 1,278,555 shares during the period. Franklin Resources Inc. raised its holdings in EOG Resources by 24.2% in the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company's stock worth $676,627,000 after acquiring an additional 1,257,110 shares during the period. First Trust Advisors LP raised its holdings in EOG Resources by 70.5% in the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company's stock worth $312,711,000 after acquiring an additional 1,231,366 shares during the period. Marshall Wace LLP lifted its position in EOG Resources by 474.7% during the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company's stock worth $138,430,000 after acquiring an additional 1,088,867 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company's stock worth $490,394,000 after acquiring an additional 901,897 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

EOG Resources Stock Down 1.2%

NYSE EOG opened at $134.61 on Friday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87. The stock has a market cap of $70.60 billion, a PE ratio of 10.48 and a beta of 0.25. The firm has a 50-day simple moving average of $137.23 and a 200 day simple moving average of $132.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.53 and a current ratio of 1.85.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.32 earnings per share. On average, research analysts forecast that EOG Resources, Inc. will post 16.3 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

Analyst Ratings Changes

EOG has been the topic of several research analyst reports. Wells Fargo & Company set a $196.00 price target on EOG Resources and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Stephens cut their price objective on EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. Citigroup decreased their target price on EOG Resources from $147.00 to $141.00 and set a "neutral" rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $175.00 target price (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $183.00 target price on shares of EOG Resources in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $156.32.

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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