EOG Resources, Inc. $EOG Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.7% during the third quarter, HoldingsChannel reports. The firm owned 194,475 shares of the energy exploration company’s stock after selling 7,495 shares during the quarter. Pictet Asset Management Holding SA’s holdings in EOG Resources were worth $26,791,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of EOG Resources in the 2nd quarter worth approximately $5,905,587,000. Bank of New York Mellon Corp bought a new position in shares of EOG Resources during the 2nd quarter valued at approximately $654,899,000. Bank of America Corp DE purchased a new stake in EOG Resources during the 2nd quarter valued at $551,321,000. Deutsche Bank AG purchased a new stake in EOG Resources during the 2nd quarter valued at $251,102,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in EOG Resources by 357.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company’s stock valued at $271,641,000 after buying an additional 1,541,140 shares during the period. 89.91% of the stock is owned by institutional investors.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction on Monday, August 24th. The stock was 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 of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,317 shares of company stock worth $7,823,480 in the last quarter. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EOG shares. Weiss Ratings upgraded EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Susquehanna reaffirmed a “positive” rating and set a $196.00 price objective (up from $187.00) on shares of EOG Resources in a research note on Tuesday. Stifel Nicolaus began coverage on shares of EOG Resources in a research report on Thursday, September 10th. They set a “hold” rating and a $158.00 price objective on the stock. UBS Group increased their target price on shares of EOG Resources from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.32.

EOG Resources Stock Up 1.5%

Shares of NYSE EOG opened at $153.81 on Thursday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $165.93. The firm has a 50-day simple moving average of $149.66 and a two-hundred day simple moving average of $138.48. The company has a market cap of $79.75 billion, a P/E ratio of 9.94, a PEG ratio of 0.53 and a beta of 0.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.90 and a quick ratio of 1.74.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $7.26 billion. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The company’s quarterly revenue was up 46.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 earnings per share. Research analysts anticipate that EOG Resources, Inc. will post 17.82 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s dividend payout ratio is 26.36%.

About EOG Resources

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.