EOG Resources, Inc. $EOG Stock: King Luther Capital Management Corp Trims Position

King Luther Capital Management Corp decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,886 shares of the energy exploration company’s stock after selling 23,200 shares during the quarter. King Luther Capital Management Corp’s holdings in EOG Resources were worth $42,414,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Byrne Asset Management LLC raised its holdings in shares of EOG Resources by 469.4% in the third quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company’s stock valued at $29,000 after buying an additional 169 shares during the last quarter. Elevated Capital Advisors LLC purchased a new position in shares of EOG Resources during the third quarter worth about $30,000. Wedbush Fund Advisers LLC purchased a new position in shares of EOG Resources during the second quarter worth about $31,000. Global Assets Advisory LLC purchased a new position in shares of EOG Resources during the first quarter worth about $37,000. Finally, Main Street Group LTD acquired a new position in EOG Resources in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares in the company, valued at $14,882,584. This represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,317 shares of company stock valued at $7,823,480 in the last three months. 0.14% of the stock is currently owned by company insiders.

EOG Resources Stock Up 1.5%

Shares of NYSE:EOG opened at $153.81 on Thursday. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.53 and a beta of 0.27. The firm’s 50-day simple moving average is $149.66 and its 200-day simple moving average is $138.48. The company has a quick ratio of 1.74, a current ratio of 1.90 and a debt-to-equity ratio of 0.24. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $165.93.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.42. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $7.26 billion. EOG Resources had a net margin of 27.54% and a return on equity of 26.32%. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. As a group, equities research analysts predict that EOG Resources, Inc. will post 17.82 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be paid a dividend of $1.10 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.9%. EOG Resources’s dividend payout ratio (DPR) is currently 26.36%.

Wall Street Analyst Weigh In

EOG has been the subject of several analyst reports. Scotiabank began coverage on EOG Resources in a research note on Wednesday, October 14th. They set a “sector perform” rating and a $144.00 price objective for the company. Morgan Stanley lifted their target price on EOG Resources from $157.00 to $163.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Mizuho set a $165.00 target price on EOG Resources in a research note on Thursday, October 15th. Roth Capital reissued a “neutral” rating and issued a $138.00 target price on shares of EOG Resources in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.32.

EOG Resources Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.