Joel Isaacson & Co. LLC Reduces Stake in EOG Resources Inc (EOG)
Joel Isaacson & Co. LLC decreased its holdings in EOG Resources Inc (NYSE:EOG) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,680 shares of the energy exploration company’s stock after selling 151 shares during the period. Joel Isaacson & Co. LLC’s holdings in EOG Resources were worth $255,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in EOG. Bridgeway Capital Management Inc. acquired a new position in EOG Resources in the third quarter worth approximately $202,000. GSA Capital Partners LLP acquired a new position in EOG Resources in the third quarter worth approximately $236,000. GAM Holding AG acquired a new position in EOG Resources in the third quarter worth approximately $264,000. Renaissance Technologies LLC acquired a new position in EOG Resources in the third quarter worth approximately $79,412,000. Finally, Laurion Capital Management LP acquired a new position in EOG Resources in the third quarter worth approximately $473,000. Hedge funds and other institutional investors own 87.89% of the company’s stock.
In other news, Director Frank G. Wisner sold 1,296 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $87.28, for a total value of $113,114.88. Following the completion of the sale, the director now directly owns 120,052 shares of the company’s stock, valued at $10,478,138.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.
EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, February 26th. The energy exploration company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.10). EOG Resources had a return on equity of 17.83% and a net margin of 19.79%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, equities analysts predict that EOG Resources Inc will post 4.84 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $0.88 annualized dividend and a dividend yield of 0.89%. EOG Resources’s dividend payout ratio is 15.88%.
EOG has been the topic of a number of research reports. ValuEngine downgraded EOG Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. TD Securities dropped their price objective on EOG Resources from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, February 28th. Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating in a report on Monday, January 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $116.00 price objective on EOG Resources and gave the stock a “buy” rating in a report on Friday, January 25th. Finally, Argus set a $120.00 price objective on EOG Resources and gave the stock a “buy” rating in a report on Friday, March 1st. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $123.00.
About EOG Resources
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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