Manning & Napier Advisors LLC Has $8.82 Million Stake in EOG Resources, Inc. $EOG

Manning & Napier Advisors LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 7.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,847 shares of the energy exploration company’s stock after selling 4,649 shares during the period. Manning & Napier Advisors LLC’s holdings in EOG Resources were worth $8,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EOG. Hardy Reed LLC increased its stake in shares of EOG Resources by 3.8% in the first quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock valued at $325,000 after buying an additional 82 shares during the period. Bollard Group LLC boosted its position in EOG Resources by 0.8% during the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company’s stock worth $1,317,000 after buying an additional 93 shares during the period. Fulton Bank N.A. grew its holdings in EOG Resources by 2.1% during the 1st quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company’s stock worth $662,000 after acquiring an additional 93 shares during the last quarter. Ethos Financial Group LLC grew its holdings in EOG Resources by 2.5% during the 4th quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company’s stock worth $439,000 after acquiring an additional 100 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in EOG Resources by 0.4% in the 4th quarter. Sumitomo Life Insurance Co. now owns 22,784 shares of the energy exploration company’s stock valued at $2,393,000 after acquiring an additional 102 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EOG has been the subject of several analyst reports. Sanford C. Bernstein dropped their price target on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, May 20th. Wells Fargo & Company set a $196.00 target price on EOG Resources and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Roth Capital reiterated a “neutral” rating and issued a $136.00 price target on shares of EOG Resources in a research report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 price target (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Finally, Mizuho set a $157.00 price objective on EOG Resources and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.04.

EOG Resources Trading Up 0.4%

EOG stock traded up $0.49 during midday trading on Friday, hitting $134.03. The stock had a trading volume of 1,864,493 shares, compared to its average volume of 4,011,652. The firm has a market cap of $71.39 billion, a P/E ratio of 13.19 and a beta of 0.25. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The business has a fifty day moving average price of $135.59 and a two-hundred day moving average price of $127.33.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the business posted $2.87 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that EOG Resources, Inc. will post 16.19 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources’s dividend payout ratio is presently 40.16%.

EOG Resources Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand?alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.