Lazard Asset Management LLC Sells 17,562 Shares of EOG Resources, Inc. $EOG

Lazard Asset Management LLC decreased its stake in EOG Resources, Inc. (NYSE:EOG) by 18.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,925 shares of the energy exploration company’s stock after selling 17,562 shares during the period. Lazard Asset Management LLC’s holdings in EOG Resources were worth $11,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EOG. Sivia Capital Partners LLC purchased a new position in shares of EOG Resources during the 2nd quarter valued at about $258,000. Quantbot Technologies LP purchased a new stake in EOG Resources in the second quarter worth approximately $349,000. Gamco Investors INC. ET AL grew its position in EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock valued at $785,000 after acquiring an additional 4,485 shares during the last quarter. NewEdge Advisors LLC grew its position in EOG Resources by 2.0% during the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock valued at $2,725,000 after acquiring an additional 444 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of EOG Resources by 4.4% during the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after acquiring an additional 15,250 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $145.89 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The company has a 50-day simple moving average of $136.69 and a two-hundred day simple moving average of $130.87. The firm has a market capitalization of $77.70 billion, a PE ratio of 14.36 and a beta of 0.25.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the business earned $2.87 EPS. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts anticipate that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources’s payout ratio is currently 40.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EOG shares. Citigroup reduced their price objective on EOG Resources from $147.00 to $141.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 8th. JPMorgan Chase & Co. decreased their price target on EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. The Goldman Sachs Group lowered their price objective on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. BMO Capital Markets increased their price objective on EOG Resources from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Finally, Zacks Research cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.32.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.