EOG Resources, Inc. $EOG Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 7.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 386,624 shares of the energy exploration company’s stock after selling 30,345 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in EOG Resources were worth $50,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jupiter Topco LLC purchased a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $138,987,000. Punch & Associates Investment Management Inc. purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $11,746,000. Parvin Asset Management LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $1,743,000. 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 valued at $9,136,000 after purchasing an additional 24,500 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new stake in EOG Resources in the 2nd quarter valued at approximately $1,051,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Buying and Selling

In other EOG Resources news, CEO Ezra 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 transaction of $5,466,778.20. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

EOG Resources Price Performance

EOG Resources stock opened at $147.27 on Friday. The firm has a market cap of $77.25 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.26. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $153.67. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $143.10 and its two-hundred day moving average is $138.10.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.32 EPS. On average, research analysts expect that EOG Resources, Inc. will post 16.89 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Analysts Set New Price Targets

A number of research firms have commented on EOG. Stifel Nicolaus started coverage on EOG Resources in a research note on Thursday. They set a “hold” rating and a $158.00 price target on the stock. Mizuho set a $157.00 price objective on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Susquehanna reiterated a “positive” rating and issued a $170.00 price objective (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Wall Street Zen downgraded EOG Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Barclays set a $147.00 target price on EOG Resources and gave the stock an “equal weight” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.07.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.