EOG Resources, Inc. $EOG Stock: Conning Inc. Increases Holdings

Conning Inc. boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 261,432 shares of the energy exploration company’s stock after buying an additional 3,666 shares during the period. Conning Inc.’s holdings in EOG Resources were worth $36,015,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of EOG Resources during the 2nd quarter worth approximately $5,905,587,000. Dimensional Fund Advisors LP raised its position in EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after purchasing an additional 54,091 shares in the last quarter. Bank of New York Mellon Corp raised its position in EOG Resources by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock valued at $712,583,000 after purchasing an additional 259,015 shares in the last quarter. Bank of America Corp DE acquired a new position in EOG Resources during the second quarter valued at approximately $551,321,000. Finally, First Trust Advisors LP lifted its stake in EOG Resources by 15.7% during the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock worth $498,189,000 after purchasing an additional 468,090 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EOG. Stifel Nicolaus initiated coverage on EOG Resources in a research note on Thursday, September 10th. They issued a “hold” rating and a $158.00 price target on the stock. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Scotiabank started coverage on EOG Resources in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $144.00 price objective for the company. Mizuho set a $165.00 price objective on EOG Resources in a research note on Thursday, October 15th. Finally, Weiss Ratings upgraded EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and a consensus price target of $161.24.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey Leitzell sold 9,039 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the transaction, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. This represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Yacob sold 35,942 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 52,317 shares of company stock worth $7,823,480. 0.14% of the stock is currently owned by company insiders.

EOG Resources Stock Performance

Shares of EOG stock opened at $160.84 on Thursday. The business’s 50-day moving average price is $148.54 and its 200-day moving average price is $136.17. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $165.11. The firm has a market capitalization of $84.37 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.58 and a beta of 0.36. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.32 earnings per share. Equities research analysts forecast that EOG Resources, Inc. will post 17.70 EPS for the current year.

EOG Resources Dividend Announcement

The firm 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 dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s payout ratio is presently 31.75%.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.