Virtus Investment Advisers LLC Cuts Stock Holdings in EOG Resources, Inc. $EOG

Virtus Investment Advisers LLC reduced its stake in EOG Resources, Inc. (NYSE:EOG) by 88.7% during the second quarter, HoldingsChannel.com reports. The fund owned 1,369 shares of the energy exploration company’s stock after selling 10,799 shares during the quarter. Virtus Investment Advisers LLC’s holdings in EOG Resources were worth $164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new stake in shares of EOG Resources in the first quarter worth about $26,000. Saudi Central Bank bought a new position in EOG Resources during the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd grew its holdings in EOG Resources by 10,950.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 219 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in EOG Resources in the 2nd quarter worth approximately $29,000. Finally, WPG Advisers LLC purchased a new stake in shares of EOG Resources during the 1st quarter worth approximately $36,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 1.3%

Shares of EOG opened at $107.58 on Friday. The company’s fifty day simple moving average is $108.74 and its 200-day simple moving average is $115.18. The company has a market cap of $58.37 billion, a P/E ratio of 10.45, a P/E/G ratio of 8.20 and a beta of 0.72. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the firm posted $2.89 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, January 16th. EOG Resources’s dividend payout ratio is presently 40.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Sanford C. Bernstein cut their target price on shares of EOG Resources from $146.00 to $144.00 and set a “market perform” rating for the company in a report on Friday, November 21st. Morgan Stanley upped their price target on shares of EOG Resources from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. KeyCorp dropped their price objective on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. decreased their target price on shares of EOG Resources from $132.00 to $131.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company decreased their target price on shares of EOG Resources from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $140.33.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.