Concert Wealth Management Inc. lowered its position in EOG Resources Inc. (NYSE:EOG) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 17,131 shares of the energy exploration company’s stock after selling 78 shares during the period. Concert Wealth Management Inc.’s holdings in EOG Resources were worth $1,430,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of EOG Resources by 1.6% in the first quarter. State Street Corp now owns 26,795,315 shares of the energy exploration company’s stock worth $1,944,806,000 after buying an additional 434,140 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of EOG Resources by 7.7% in the first quarter. Wellington Management Group LLP now owns 19,754,733 shares of the energy exploration company’s stock worth $1,433,799,000 after buying an additional 1,419,018 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of EOG Resources by 3.0% in the first quarter. Geode Capital Management LLC now owns 4,387,988 shares of the energy exploration company’s stock worth $317,824,000 after buying an additional 125,955 shares in the last quarter. American Century Companies Inc. raised its stake in shares of EOG Resources by 10.1% in the second quarter. American Century Companies Inc. now owns 3,125,813 shares of the energy exploration company’s stock worth $260,755,000 after buying an additional 286,912 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of EOG Resources by 3.7% in the first quarter. Lazard Asset Management LLC now owns 2,977,221 shares of the energy exploration company’s stock worth $216,086,000 after buying an additional 107,086 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.
Shares of EOG Resources Inc. (NYSE:EOG) traded up 2.94% during trading on Wednesday, hitting $95.87. The company’s stock had a trading volume of 2,008,590 shares. The stock’s market cap is $52.79 billion. EOG Resources Inc. has a one year low of $57.15 and a one year high of $98.32. The company has a 50-day moving average price of $93.02 and a 200-day moving average price of $85.06.
EOG Resources (NYSE:EOG) last issued its earnings results on Friday, August 5th. The energy exploration company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.57 billion. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. The company’s revenue for the quarter was down 28.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 EPS. Equities analysts predict that EOG Resources Inc. will post ($1.67) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a $0.1675 dividend. The ex-dividend date is Thursday, October 13th. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.72%. EOG Resources’s dividend payout ratio (DPR) is presently -7.14%.
A number of equities research analysts have weighed in on the company. Wunderlich lifted their target price on EOG Resources from $104.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, October 7th. Societe Generale lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Simmons reaffirmed an “overweight” rating and set a $109.00 target price (up from $103.00) on shares of EOG Resources in a research report on Friday, September 9th. Barclays PLC reaffirmed an “overweight” rating on shares of EOG Resources in a research report on Friday, September 30th. Finally, Royal Bank Of Canada lifted their target price on EOG Resources from $95.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 7th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $92.22.
In other news, Director Frank G. Wisner sold 2,026 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $92.65, for a total value of $187,708.90. Following the sale, the director now owns 113,125 shares in the company, valued at approximately $10,481,031.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Thomas sold 16,581 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $92.86, for a total transaction of $1,539,711.66. Following the completion of the sale, the chief executive officer now owns 502,766 shares in the company, valued at approximately $46,686,850.76. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
About EOG Resources
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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