EOG Resources, Inc. $EOG Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in EOG Resources, Inc. (NYSE:EOG) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,319,798 shares of the energy exploration company’s stock after selling 74,438 shares during the period. Legal & General Group Plc’s holdings in EOG Resources were worth $348,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EOG. Sivia Capital Partners LLC acquired a new position in EOG Resources in the second quarter worth about $258,000. Quantbot Technologies LP acquired a new position in EOG Resources in the second quarter worth about $349,000. Gamco Investors INC. ET AL grew its stake 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 purchasing an additional 4,485 shares in the last quarter. NewEdge Advisors LLC grew its stake 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 purchasing an additional 444 shares in the last quarter. Finally, Sei Investments Co. grew its stake in EOG Resources by 4.4% in the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after purchasing an additional 15,250 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EOG has been the subject of a number of research reports. Zacks Research upgraded EOG Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Morgan Stanley raised their target price on shares of EOG Resources from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Scotiabank raised their target price on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Raymond James Financial raised their target price on shares of EOG Resources from $157.00 to $185.00 and gave the stock a “strong-buy” rating in a report on Friday, March 27th. Finally, Mizuho raised their target price on shares of EOG Resources from $147.00 to $149.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and an average target price of $156.11.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $136.43 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $138.13 and its two-hundred day moving average price is $121.26. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The stock has a market capitalization of $72.67 billion, a P/E ratio of 13.43 and a beta of 0.27.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the company posted $2.87 earnings per share. EOG Resources’s revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s payout ratio is 40.16%.

Insider Buying and Selling

In other news, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the sale, the chief financial officer owned 100,246 shares of the company’s stock, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the sale, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 16,230 shares of company stock worth $2,272,568. Corporate insiders own 0.14% of the company’s stock.

About EOG Resources

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.