Legal & General Group Plc Cuts Stake in EOG Resources, Inc. $EOG

Legal & General Group Plc cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,191,621 shares of the energy exploration company’s stock after selling 157,607 shares during the quarter. Legal & General Group Plc’s holdings in EOG Resources were worth $414,049,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Ilmarinen Mutual Pension Insurance Co increased its holdings in EOG Resources by 39.2% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock worth $9,136,000 after buying an additional 24,500 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of EOG Resources by 66.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company’s stock worth $2,073,000 after acquiring an additional 7,877 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company’s stock valued at $123,451,000 after purchasing an additional 24,984 shares during the last quarter. Cumberland Partners Ltd raised its holdings in shares of EOG Resources by 432.0% during the fourth quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company’s stock valued at $1,625,000 after purchasing an additional 12,562 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in EOG Resources by 8.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company’s stock valued at $32,541,000 after purchasing an additional 24,960 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on EOG Resources from $168.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of EOG Resources in a report on Friday, August 7th. Barclays set a $147.00 target price on EOG Resources and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Finally, Freedom Capital lowered shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $156.22.

Insider Buying and Selling

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

EOG Resources Trading Down 2.2%

Shares of EOG Resources stock opened at $146.90 on Wednesday. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $153.67. The company’s fifty day simple moving average is $139.41 and its 200-day simple moving average is $135.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The stock has a market capitalization of $77.05 billion, a PE ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same period in the prior year, the business posted $2.32 EPS. EOG Resources’s revenue was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s payout ratio is currently 31.75%.

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.