The Manufacturers Life Insurance Company Lowers Stock Position in EOG Resources, Inc. (NYSE:EOG)

The Manufacturers Life Insurance Company lowered its position in EOG Resources, Inc. (NYSE:EOG) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 716,314 shares of the energy exploration company’s stock after selling 46,575 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of EOG Resources worth $25,745,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EOG. Morgan Stanley raised its stake in shares of EOG Resources by 28.6% in the 1st quarter. Morgan Stanley now owns 2,925,383 shares of the energy exploration company’s stock valued at $105,079,000 after purchasing an additional 650,521 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of EOG Resources by 23.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 152,489 shares of the energy exploration company’s stock valued at $7,727,000 after purchasing an additional 28,574 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of EOG Resources by 5.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 49,289 shares of the energy exploration company’s stock valued at $2,497,000 after purchasing an additional 2,530 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of EOG Resources by 184.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 12,349 shares of the energy exploration company’s stock valued at $626,000 after purchasing an additional 8,000 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of EOG Resources by 253.3% in the 2nd quarter. First Trust Advisors LP now owns 757,441 shares of the energy exploration company’s stock valued at $38,372,000 after purchasing an additional 543,063 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.

EOG has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their target price on shares of EOG Resources from $69.00 to $63.00 in a research note on Friday, October 16th. Northland Securities assumed coverage on shares of EOG Resources in a research report on Monday, September 14th. They set a “market perform” rating and a $56.00 price objective for the company. Morgan Stanley boosted their price objective on shares of EOG Resources from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 17th. Credit Suisse Group assumed coverage on shares of EOG Resources in a research report on Tuesday, August 4th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of EOG Resources from a “hold” rating to a “sell” rating and set a $34.00 price objective for the company. in a research report on Thursday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $62.42.

Shares of NYSE:EOG opened at $45.39 on Friday. The company has a 50 day moving average of $37.58 and a 200-day moving average of $45.18. The firm has a market cap of $26.48 billion, a P/E ratio of -87.29, a P/E/G ratio of 5.59 and a beta of 1.95. EOG Resources, Inc. has a twelve month low of $27.00 and a twelve month high of $89.54. The company has a current ratio of 2.13, a quick ratio of 1.82 and a debt-to-equity ratio of 0.28.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.25. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.50 billion. EOG Resources had a net margin of 2.44% and a return on equity of 7.70%. The business’s revenue for the quarter was down 47.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 EPS. Equities research analysts forecast that EOG Resources, Inc. will post 0.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, October 15th. EOG Resources’s dividend payout ratio is presently 30.12%.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. The company's principal producing areas are located in New Mexico, North Dakota, Texas, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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