Institute for Wealth Management LLC. Trims Stake in EOG Resources Inc (NYSE:EOG)

Institute for Wealth Management LLC. reduced its position in EOG Resources Inc (NYSE:EOG) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 12,791 shares of the energy exploration company’s stock after selling 226 shares during the period. Institute for Wealth Management LLC.’s holdings in EOG Resources were worth $949,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Knuff & Co LLC purchased a new position in shares of EOG Resources during the second quarter worth approximately $28,000. Truvestments Capital LLC purchased a new position in shares of EOG Resources during the second quarter worth approximately $33,000. Tortoise Investment Management LLC purchased a new position in shares of EOG Resources during the second quarter worth approximately $34,000. Mizuho Securities Co. Ltd. bought a new position in shares of EOG Resources during the second quarter valued at approximately $37,000. Finally, Coastal Investment Advisors Inc. boosted its stake in shares of EOG Resources by 147.1% during the third quarter. Coastal Investment Advisors Inc. now owns 504 shares of the energy exploration company’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Shares of NYSE:EOG traded down $1.43 on Monday, hitting $71.05. 2,678,297 shares of the company were exchanged, compared to its average volume of 3,919,748. EOG Resources Inc has a 1-year low of $64.33 and a 1-year high of $110.20. The stock’s 50 day moving average price is $73.87 and its 200 day moving average price is $84.44. The company has a current ratio of 1.02, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $41.79 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $1.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.02). EOG Resources had a return on equity of 16.25% and a net margin of 19.69%. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that EOG Resources Inc will post 4.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.15 annualized dividend and a dividend yield of 1.62%. EOG Resources’s payout ratio is currently 20.76%.

EOG has been the topic of a number of recent research reports. Oppenheimer dropped their price objective on shares of EOG Resources from $111.00 to $102.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. ValuEngine upgraded shares of EOG Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Jaffray Companies set a $111.00 price objective on shares of EOG Resources and gave the company a “buy” rating in a research note on Friday, August 16th. KeyCorp dropped their price objective on shares of EOG Resources from $110.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $109.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $108.00.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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