Rafferty Asset Management LLC Decreases Holdings in EOG Resources, Inc. $EOG

Key Points

• Rafferty Asset Management LLC reduced its stake in EOG Resources, Inc. by 15.1%, owning 145,483 shares after selling 25,862 shares in the first quarter.
• EOG Resources is projected to have 11.47 earnings per share for the current year, with a consensus rating of "Moderate Buy" and an average target price of $143.61 among analysts.
• The company recently increased its quarterly dividend to $1.02 per share, reflecting a 3.4% yield based on annualized figures.

Rafferty Asset Management LLC trimmed its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 15.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,483 shares of the energy exploration company's stock after selling 25,862 shares during the quarter. Rafferty Asset Management LLC's holdings in EOG Resources were worth $18,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in EOG. Vanguard Group Inc. lifted its stake in EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after buying an additional 348,895 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after acquiring an additional 1,188,552 shares in the last quarter. Northern Trust Corp lifted its position in shares of EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after acquiring an additional 358,916 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in EOG Resources by 1.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after acquiring an additional 60,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in EOG Resources by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,911,741 shares of the energy exploration company's stock worth $629,789,000 after purchasing an additional 36,777 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Melius Research assumed coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price objective on the stock. Barclays boosted their target price on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Bank of America cut their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of "Moderate Buy" and an average target price of $143.61.

EOG Resources Stock Up 0.4%

Shares of NYSE:EOG traded up $0.55 during mid-day trading on Friday, hitting $124.89. 1,737,955 shares of the company traded hands, compared to its average volume of 2,737,268. The stock has a 50-day moving average price of $120.06 and a two-hundred day moving average price of $118.95. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market cap of $68.19 billion, a P/E ratio of 12.14, a P/E/G ratio of 9.50 and a beta of 0.80. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business's revenue was down 9.1% on a year-over-year basis. During the same period last year, the business earned $3.16 EPS. On average, equities research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated 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 sale, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

EOG Resources 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.