PFG Investments LLC Reduces Stake in EOG Resources, Inc. (NYSE:EOG)

PFG Investments LLC lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 53.0% in the second quarter, Holdings Channel reports. The institutional investor owned 2,626 shares of the energy exploration company’s stock after selling 2,961 shares during the quarter. PFG Investments LLC’s holdings in EOG Resources were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EOG. Capital World Investors increased its holdings in EOG Resources by 59.2% during the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of EOG Resources by 26.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock worth $598,475,000 after purchasing an additional 1,029,727 shares during the period. Capital International Investors increased its holdings in shares of EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares during the period. Capital Research Global Investors raised its position in shares of EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after buying an additional 373,365 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in EOG Resources by 237.9% during the second quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after buying an additional 343,527 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup lifted their price target on EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Sanford C. Bernstein dropped their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Susquehanna cut their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on shares of EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $143.63.

EOG Resources Stock Performance

NYSE:EOG opened at $118.23 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The business has a 50 day moving average price of $126.04 and a 200-day moving average price of $126.12. The firm has a market cap of $67.95 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.28.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 earnings per share. Equities research analysts predict that EOG Resources, Inc. will post 12.2 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.08%. EOG Resources’s dividend payout ratio is currently 28.75%.

EOG Resources Company 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.