Wellington Management Group LLP Sells 1,676,830 Shares of EOG Resources, Inc. $EOG

Key Points

• Wellington Management Group LLP significantly reduced its stake in EOG Resources by 54.8%, selling 1,676,830 shares and now owning approximately 0.25% of the company, valued at $177 million.
• EOG Resources has recently announced an increase in its quarterly dividend to $1.02 per share, resulting in an annual yield of 3.4%.
• Despite a 9.1% decrease in year-over-year revenue, EOG reported $2.32 EPS for the quarter, surpassing analysts' estimates.

Wellington Management Group LLP decreased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 54.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,381,433 shares of the energy exploration company's stock after selling 1,676,830 shares during the quarter. Wellington Management Group LLP owned approximately 0.25% of EOG Resources worth $177,155,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of EOG. Nuveen LLC acquired a new position in shares of EOG Resources in the first quarter worth about $451,908,000. GAMMA Investing LLC grew its holdings in shares of EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after purchasing an additional 1,272,765 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of EOG Resources by 6.5% during the first 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 purchasing an additional 1,188,552 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of EOG Resources by 58.6% during the fourth quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after purchasing an additional 769,362 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of EOG Resources by 134.7% during the fourth quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock valued at $158,720,000 after purchasing an additional 743,202 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling

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

EOG Resources Stock Performance

Shares of NYSE EOG traded up $2.3950 during mid-day trading on Friday, hitting $120.9050. The company had a trading volume of 2,245,946 shares, compared to its average volume of 2,796,382. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The business's 50-day simple moving average is $120.18 and its 200-day simple moving average is $119.09. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The firm has a market cap of $66.01 billion, a P/E ratio of 11.75, a PEG ratio of 9.25 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $3.16 earnings per share. As a group, analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. 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 3.4%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio is 37.90%.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Melius initiated coverage on EOG Resources in a research report on Wednesday. They set a "buy" rating and a $173.00 target price on the stock. Raymond James Financial increased their target price on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, UBS Group increased their target price on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and an average target price of $143.61.

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.