Franklin Resources Inc. Sells 702,363 Shares of EOG Resources, Inc. $EOG

Franklin Resources Inc. decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,638,009 shares of the energy exploration company’s stock after selling 702,363 shares during the quarter. Franklin Resources Inc. owned 0.85% of EOG Resources worth $554,752,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kiker Wealth Management LLC bought a new stake in EOG Resources during the second quarter worth $627,000. Vanguard Personalized Indexing Management LLC boosted its holdings in 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 worth $7,386,000 after acquiring an additional 5,156 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of EOG Resources by 30.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock worth $25,107,000 after acquiring an additional 45,295 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of EOG Resources in the first quarter valued at about $2,796,000. Finally, FORA Capital LLC bought a new position in shares of EOG Resources during the first quarter valued at about $472,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of EOG Resources from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research reduced their target price on EOG Resources from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Roth Capital decreased their price target on EOG Resources from $126.00 to $114.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Wells Fargo & Company cut their price objective on EOG Resources from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Argus downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $140.33.

EOG Resources Stock Performance

NYSE:EOG opened at $106.98 on Friday. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The business has a fifty day simple moving average of $109.93 and a two-hundred day simple moving average of $115.33. The company has a market capitalization of $58.05 billion, a P/E ratio of 10.40, a P/E/G ratio of 8.20 and a beta of 0.72.

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

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, January 16th. EOG Resources’s dividend payout ratio is presently 40.64%.

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.