Bridges Investment Management Inc. boosted its holdings in EOG Resources Inc (NYSE:EOG) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,276 shares of the energy exploration company’s stock after purchasing an additional 5,439 shares during the quarter. Bridges Investment Management Inc.’s holdings in EOG Resources were worth $7,500,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Forsta AP Fonden increased its holdings in EOG Resources by 136.8% in the second quarter. Forsta AP Fonden now owns 245,094 shares of the energy exploration company’s stock worth $30,497,000 after purchasing an additional 141,600 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC bought a new stake in EOG Resources in the second quarter worth approximately $7,835,000. Centaurus Financial Inc. bought a new stake in EOG Resources in the second quarter worth approximately $233,000. SCP Investment LP bought a new stake in EOG Resources in the second quarter worth approximately $3,111,000. Finally, Banco de Sabadell S.A bought a new stake in EOG Resources in the second quarter worth approximately $1,364,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
In related news, Director Charles R. Crisp sold 1,792 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $116.80, for a total transaction of $209,305.60. Following the completion of the sale, the director now owns 49,741 shares in the company, valued at $5,809,748.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Gary L. Thomas sold 55,886 shares of the company’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $118.27, for a total value of $6,609,637.22. Following the sale, the president now owns 1,131,797 shares of the company’s stock, valued at approximately $133,857,631.19. The disclosure for this sale can be found here. Insiders have sold 116,607 shares of company stock valued at $14,030,465 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on EOG shares. Robert W. Baird lifted their target price on EOG Resources from $145.00 to $157.00 and gave the stock an “outperform” rating in a report on Tuesday, June 19th. Societe Generale upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. TD Securities started coverage on EOG Resources in a report on Thursday, July 5th. They set a “buy” rating and a $155.00 price objective for the company. Zacks Investment Research upgraded EOG Resources from a “hold” rating to a “strong-buy” rating and set a $142.00 price objective for the company in a report on Monday, July 9th. Finally, Morgan Stanley started coverage on EOG Resources in a report on Thursday, July 12th. They set an “equal weight” rating and a $128.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $135.33.
Shares of EOG Resources stock opened at $116.62 on Friday. EOG Resources Inc has a 12-month low of $91.17 and a 12-month high of $131.60. The firm has a market cap of $67.31 billion, a P/E ratio of 104.13, a P/E/G ratio of 1.72 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.13. EOG Resources had a return on equity of 12.38% and a net margin of 27.81%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. EOG Resources’s revenue was up 62.2% compared to the same quarter last year. equities analysts anticipate that EOG Resources Inc will post 5.62 EPS for the current year.
The business 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 dividend of $0.22 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.88 annualized dividend and a yield of 0.75%. This is an increase from EOG Resources’s previous quarterly dividend of $0.19. EOG Resources’s dividend payout ratio is 66.07%.
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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