Rafferty Asset Management LLC Reduces Stock Holdings in EOG Resources, Inc. $EOG

Rafferty Asset Management LLC lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,483 shares of the energy exploration company’s stock after selling 25,862 shares during the quarter. Rafferty Asset Management LLC’s holdings in EOG Resources were worth $18,657,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Nuveen LLC purchased a new stake in EOG Resources in the first quarter valued at $451,908,000. GAMMA Investing LLC grew its holdings in shares of EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company’s stock worth $164,323,000 after purchasing an additional 1,272,765 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of EOG Resources by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock worth $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of EOG Resources by 58.6% in the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company’s stock valued at $255,139,000 after purchasing an additional 769,362 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of EOG Resources by 134.7% in the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company’s stock valued at $158,720,000 after purchasing an additional 743,202 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EOG shares. Melius Research assumed coverage on EOG Resources in a research report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $148.00 target price (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Roth Capital downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Stephens started coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 price target for the company. Finally, UBS Group lifted their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.61.

EOG Resources Stock Performance

Shares of EOG opened at $121.35 on Wednesday. The stock has a market capitalization of $66.26 billion, a P/E ratio of 11.79, a P/E/G ratio of 9.27 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company’s fifty day moving average is $120.08 and its two-hundred day moving average is $119.02.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the previous year, the firm earned $3.16 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio is presently 37.90%.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.