American International Group Inc. Has $27.12 Million Holdings in EOG Resources Inc (EOG)
American International Group Inc. cut its position in shares of EOG Resources Inc (NYSE:EOG) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,966 shares of the energy exploration company’s stock after selling 748 shares during the period. American International Group Inc.’s holdings in EOG Resources were worth $27,122,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Optimum Investment Advisors purchased a new position in EOG Resources during the first quarter worth about $109,000. Transamerica Financial Advisors Inc. purchased a new position in EOG Resources during the second quarter worth about $158,000. Kaizen Advisory LLC raised its stake in EOG Resources by 133.6% during the second quarter. Kaizen Advisory LLC now owns 1,301 shares of the energy exploration company’s stock worth $162,000 after purchasing an additional 744 shares during the period. Citizens Financial Group Inc RI raised its stake in EOG Resources by 41.8% during the first quarter. Citizens Financial Group Inc RI now owns 1,546 shares of the energy exploration company’s stock worth $162,000 after purchasing an additional 456 shares during the period. Finally, Alpha Windward LLC purchased a new position in EOG Resources during the second quarter worth about $193,000. 85.22% of the stock is currently owned by institutional investors.
Shares of EOG stock opened at $114.77 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $71.11 billion, a P/E ratio of 102.47, a price-to-earnings-growth ratio of 1.86 and a beta of 0.99. EOG Resources Inc has a fifty-two week low of $81.99 and a fifty-two week high of $131.60.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from EOG Resources’s previous quarterly dividend of $0.19. EOG Resources’s payout ratio is 66.07%.
A number of brokerages have commented on EOG. Morgan Stanley reduced their target price on shares of EOG Resources from $128.00 to $122.00 and set a “hold” rating on the stock in a research note on Thursday. ValuEngine cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Wednesday. Cowen set a $125.00 price target on shares of EOG Resources and gave the company a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research upgraded shares of EOG Resources from a “hold” rating to a “strong-buy” rating and set a $142.00 price target for the company in a research report on Monday, July 9th. Finally, TD Securities assumed coverage on shares of EOG Resources in a research report on Thursday, July 5th. They set a “buy” rating and a $155.00 price target for the company. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. EOG Resources currently has a consensus rating of “Buy” and an average price target of $134.10.
In related news, President Gary L. Thomas sold 55,886 shares of EOG Resources 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 completion of the transaction, the president now owns 1,131,797 shares in the company, valued at $133,857,631.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Thomas sold 57,065 shares of EOG Resources stock in a transaction that occurred on Friday, August 10th. The shares were 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 of the company’s stock, valued at approximately $92,445,304.84. The disclosure for this sale can be found here. Insiders sold 114,815 shares of company stock valued at $13,821,159 in the last 90 days. Company insiders own 0.51% of the company’s stock.
EOG Resources Company 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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