California State Teachers Retirement System Acquires 80,330,686 Shares of EOG Resources, Inc. $EOG

California State Teachers Retirement System grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 12,810.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,957,747 shares of the energy exploration company’s stock after purchasing an additional 80,330,686 shares during the period. California State Teachers Retirement System owned about 0.15% of EOG Resources worth $10,502,649,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in EOG Resources during the second quarter worth $5,905,587,000. State Street Corp increased its stake in EOG Resources by 0.3% in the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock valued at $3,209,365,000 after buying an additional 100,080 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after buying an additional 371,548 shares during the last quarter. Geode Capital Management LLC lifted its position in EOG Resources by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock worth $1,364,309,000 after buying an additional 95,260 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in EOG Resources by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,507,760 shares of the energy exploration company’s stock worth $683,382,000 after buying an additional 122,112 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ezra Yacob sold 35,942 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley set a $157.00 price objective on EOG Resources and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Raymond James Financial restated a “strong-buy” rating and issued a $183.00 price target on shares of EOG Resources in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $157.04.

EOG Resources Trading Up 0.2%

Shares of EOG Resources stock opened at $145.44 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The business has a fifty day simple moving average of $142.06 and a two-hundred day simple moving average of $137.70. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $153.67. The company has a market capitalization of $76.29 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 0.54 and a beta of 0.26.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 earnings per share. Research analysts forecast that EOG Resources, Inc. will post 16.89 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources’s payout ratio is presently 31.75%.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.