American Century Companies Inc. Lowers Position in EOG Resources Inc (EOG)
American Century Companies Inc. cut its holdings in EOG Resources Inc (NYSE:EOG) by 17.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,550,974 shares of the energy exploration company’s stock after selling 776,362 shares during the quarter. American Century Companies Inc.’s holdings in EOG Resources were worth $441,848,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in EOG. Neville Rodie & Shaw Inc. purchased a new stake in shares of EOG Resources during the second quarter valued at about $1,231,000. Providence Capital Advisors LLC lifted its position in shares of EOG Resources by 4.6% during the first quarter. Providence Capital Advisors LLC now owns 18,818 shares of the energy exploration company’s stock valued at $1,981,000 after buying an additional 824 shares during the last quarter. First American Trust FSB purchased a new stake in shares of EOG Resources during the second quarter valued at about $4,781,000. Toronto Dominion Bank lifted its position in shares of EOG Resources by 25.0% during the first quarter. Toronto Dominion Bank now owns 314,587 shares of the energy exploration company’s stock valued at $33,109,000 after buying an additional 62,868 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its position in shares of EOG Resources by 53.6% during the second quarter. Moody Lynn & Lieberson LLC now owns 16,037 shares of the energy exploration company’s stock valued at $1,995,000 after buying an additional 5,598 shares during the last quarter. 85.22% of the stock is owned by institutional investors.
In related news, President Gary L. Thomas sold 55,886 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $118.27, for a total value of $6,609,637.22. Following the transaction, the president now owns 1,131,797 shares in the company, valued at approximately $133,857,631.19. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William R. Thomas sold 57,065 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $122.36, for a total transaction of $6,982,473.40. Following the completion of the transaction, the chief executive officer now owns 755,519 shares in the company, valued at approximately $92,445,304.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,815 shares of company stock worth $13,821,159. 0.51% of the stock is owned by corporate insiders.
EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.13. EOG Resources had a net margin of 27.81% and a return on equity of 12.38%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the company earned $0.08 EPS. EOG Resources’s quarterly revenue was up 62.2% on a year-over-year basis. analysts forecast that EOG Resources Inc will post 5.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, October 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.19. EOG Resources’s dividend payout ratio is 66.07%.
EOG has been the topic of several recent analyst reports. Jefferies Financial Group set a $122.00 price objective on shares of EOG Resources and gave the company a “hold” rating in a report on Wednesday, July 18th. Zacks Investment Research downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Morgan Stanley initiated coverage on shares of EOG Resources in a report on Thursday, July 12th. They set an “equal weight” rating and a $128.00 price objective on the stock. Bank of America set a $130.00 price objective on shares of EOG Resources and gave the company a “hold” rating in a report on Friday, May 4th. Finally, ValuEngine upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $134.10.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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