Madison Asset Management LLC Trims Position in EOG Resources, Inc. $EOG

Madison Asset Management LLC decreased its position in EOG Resources, Inc. (NYSE:EOG) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 80,794 shares of the energy exploration company’s stock after selling 4,467 shares during the period. Madison Asset Management LLC’s holdings in EOG Resources were worth $10,481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of EOG. Csenge Advisory Group boosted its position in EOG Resources by 3.6% in the second quarter. Csenge Advisory Group now owns 5,374 shares of the energy exploration company’s stock worth $697,000 after purchasing an additional 186 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of EOG Resources during the 2nd quarter valued at about $59,000. Johnson Financial Group Inc. increased its position in shares of EOG Resources by 2.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 29,824 shares of the energy exploration company’s stock valued at $3,869,000 after purchasing an additional 679 shares during the last quarter. West Family Investments Inc. bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $908,000. Finally, Essential Partners LLC lifted its stake in shares of EOG Resources by 491.1% in the 2nd quarter. Essential Partners LLC now owns 733 shares of the energy exploration company’s stock worth $95,000 after purchasing an additional 609 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

NYSE EOG opened at $149.54 on Thursday. The firm has a market cap of $78.44 billion, a price-to-earnings ratio of 11.64 and a beta of 0.25. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $138.10 and a 200-day moving average price of $134.59. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the business posted $2.32 earnings per share. As a group, equities research analysts predict that EOG Resources, Inc. will post 16.43 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Analyst Ratings Changes

Several analysts recently issued reports on EOG shares. Roth Capital restated a “neutral” rating and set a $138.00 target price on shares of EOG Resources in a research report on Wednesday, August 5th. DA Davidson lifted their price target on shares of EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 price target (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. UBS Group cut their price objective on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of EOG Resources in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average price target of $155.41.

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.