The Manufacturers Life Insurance Company lessened its stake in EOG Resources, Inc. (NYSE:EOG – Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 386,624 shares of the energy exploration company’s stock after selling 30,345 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of EOG Resources worth $50,157,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in EOG. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the fourth quarter worth about $25,000. SJS Investment Consulting Inc. lifted its stake in EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Prosperity Bancshares Inc acquired a new stake in EOG Resources in the 4th quarter worth about $26,000. Nemes Rush Group LLC acquired a new stake in EOG Resources in the 4th quarter worth about $30,000. Finally, Financial Life Planners purchased a new stake in EOG Resources during the 1st quarter worth approximately $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other EOG Resources news, CEO Ezra Yacob sold 35,942 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Stifel Nicolaus started coverage on EOG Resources in a report on Thursday. They set a “hold” rating and a $158.00 target price for the company. Freedom Capital cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Morgan Stanley set a $157.00 price objective on EOG Resources and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Capital One Financial cut shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price on the stock. in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $157.07.
Get Our Latest Stock Report on EOG Resources
EOG Resources Trading Down 0.1%
EOG opened at $147.27 on Friday. The firm has a market capitalization of $77.25 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.26. The company’s 50 day simple moving average is $143.10 and its two-hundred day simple moving average is $138.10. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $153.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.
EOG Resources (NYSE:EOG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same period in the prior year, the business earned $2.32 earnings per share. The business’s revenue was up 57.4% compared to the same quarter last year. Analysts expect that EOG Resources, Inc. will post 16.89 EPS for the current fiscal year.
EOG Resources Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio is presently 31.75%.
EOG Resources Profile
EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.
The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.
EOG traces its history to Enron Oil & Gas Company, which was established in 1990.
Recommended Stories
- Five stocks we like better than EOG Resources
- Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model
- Kroger’s Textbook Entry for Buy-and-Hold Investors
- AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window
- Amgen Drops 10% on a Trial It Didn’t Even Run
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in EOG Resources Right Now?
Before you consider EOG Resources, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and EOG Resources wasn’t on the list.
While EOG Resources currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
