Geode Capital Management LLC Cuts Stake in EOG Resources, Inc. $EOG

Geode Capital Management LLC lessened its position in EOG Resources, Inc. (NYSE:EOG) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,005,052 shares of the energy exploration company’s stock after selling 120,203 shares during the period. Geode Capital Management LLC owned approximately 2.38% of EOG Resources worth $1,556,281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kiker Wealth Management LLC acquired a new stake in EOG Resources in the second quarter valued at $627,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of EOG Resources by 9.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,742 shares of the energy exploration company’s stock valued at $7,386,000 after acquiring an additional 5,156 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in EOG Resources by 30.1% during the first quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock worth $25,107,000 after purchasing an additional 45,295 shares during the period. FORA Capital LLC acquired a new stake in EOG Resources during the 1st quarter worth approximately $472,000. Finally, Jump Financial LLC purchased a new stake in shares of EOG Resources in the first quarter worth about $2,796,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EOG. Royal Bank Of Canada lifted their target price on EOG Resources from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of EOG Resources in a research note on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on EOG Resources from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. UBS Group upped their price target on EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Barclays set a $136.00 target price on shares of EOG Resources and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $140.72.

EOG Resources Trading Down 0.6%

EOG stock opened at $108.68 on Thursday. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $111.41 and its 200-day moving average is $115.50. The firm has a market cap of $59.34 billion, a P/E ratio of 10.56, a P/E/G ratio of 8.20 and a beta of 0.72.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the firm earned $2.89 EPS. EOG Resources’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.8%. EOG Resources’s dividend payout ratio is presently 40.64%.

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.