First Manhattan CO. LLC. Sells 510 Shares of EOG Resources, Inc. (NYSE:EOG)

First Manhattan CO. LLC. cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,205 shares of the energy exploration company’s stock after selling 510 shares during the period. First Manhattan CO. LLC.’s holdings in EOG Resources were worth $638,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of EOG Resources in the 4th quarter worth about $25,000. Y.D. More Investments Ltd increased its holdings in shares of EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of EOG Resources in the 4th quarter worth about $25,000. Decker Retirement Planning Inc. bought a new position in EOG Resources during the 4th quarter valued at about $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources during the 4th quarter valued at about $27,000. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

EOG Resources Price Performance

NYSE EOG opened at $111.13 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm’s 50 day moving average price is $116.68 and its 200-day moving average price is $124.53. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a market cap of $60.65 billion, a PE ratio of 8.95, a P/E/G ratio of 3.58 and a beta of 0.78.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the firm earned $2.82 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be paid a dividend of $0.975 per share. The ex-dividend date is Thursday, July 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.51%. EOG Resources’s dividend payout ratio is presently 36.18%.

Analyst Upgrades and Downgrades

EOG has been the topic of several analyst reports. UBS Group cut their price target on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Scotiabank upgraded shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and cut their price target for the company from $150.00 to $130.00 in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Morgan Stanley cut their price target on shares of EOG Resources from $142.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Wells Fargo & Company dropped their target price on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has an average rating of “Moderate Buy” and an average target price of $140.95.

About EOG Resources

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.