Madison Asset Management LLC cut its stake in EOG Resources, Inc. (NYSE:EOG – Free Report) by 4.2% in the 1st quarter, Holdings Channel reports. The firm owned 85,261 shares of the energy exploration company’s stock after selling 3,724 shares during the period. Madison Asset Management LLC’s holdings in EOG Resources were worth $12,326,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sivia Capital Partners LLC purchased a new position in shares of EOG Resources during the second quarter valued at about $258,000. Quantbot Technologies LP purchased a new stake in EOG Resources in the second quarter worth about $349,000. Gamco Investors INC. ET AL lifted its holdings in EOG Resources by 216.1% in the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock worth $785,000 after buying an additional 4,485 shares during the period. NewEdge Advisors LLC lifted its holdings in EOG Resources by 2.0% in the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock worth $2,725,000 after buying an additional 444 shares during the period. Finally, Sei Investments Co. boosted its position in EOG Resources by 4.4% during the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock valued at $43,356,000 after acquiring an additional 15,250 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
EOG has been the topic of a number of research analyst reports. Raymond James Financial reduced their target price on EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a report on Monday, June 22nd. Citigroup dropped their price target on EOG Resources from $147.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Zacks Research cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Williams Trading set a $177.00 price objective on EOG Resources in a report on Monday, April 20th. Finally, Susquehanna reissued a “positive” rating and set a $170.00 price objective (up from $166.00) on shares of EOG Resources in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and a consensus target price of $155.32.
EOG Resources Price Performance
Shares of NYSE EOG opened at $143.34 on Wednesday. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The company has a 50 day simple moving average of $136.25 and a two-hundred day simple moving average of $129.24. The company has a market capitalization of $76.35 billion, a price-to-earnings ratio of 14.11 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72.
EOG Resources (NYSE:EOG – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the previous year, the firm posted $2.87 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts expect that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.
EOG Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. EOG Resources’s payout ratio is presently 40.16%.
EOG Resources Profile
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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