Madison Asset Management LLC Cuts Stock Position in EOG Resources, Inc. $EOG

Madison Asset Management LLC cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,261 shares of the energy exploration company’s stock after selling 3,724 shares during the quarter. Madison Asset Management LLC’s holdings in EOG Resources were worth $12,326,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EOG. Concurrent Investment Advisors LLC grew its holdings in shares of EOG Resources by 66.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company’s stock valued at $2,073,000 after purchasing an additional 7,877 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its stake in EOG Resources by 39.2% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock worth $9,136,000 after purchasing an additional 24,500 shares during the last quarter. Cumberland Partners Ltd boosted its position in EOG Resources by 432.0% during the fourth quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company’s stock valued at $1,625,000 after buying an additional 12,562 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company’s stock valued at $123,451,000 after buying an additional 24,984 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of EOG Resources by 8.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company’s stock valued at $32,541,000 after buying an additional 24,960 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $143.34 on Wednesday. The company has a market cap of $76.35 billion, a price-to-earnings ratio of 14.11 and a beta of 0.25. The company has a 50-day moving average price of $136.25 and a 200-day moving average price of $129.24. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same period last year, the firm earned $2.87 earnings per share. EOG Resources’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.19 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources’s dividend payout ratio (DPR) is 40.16%.

Analyst Ratings Changes

Several research firms have recently commented on EOG. Citigroup decreased their price objective on EOG Resources from $147.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. DA Davidson raised their price target on EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Scotiabank lifted their price target on EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Roth Capital reiterated a “neutral” rating and issued a $136.00 price objective on shares of EOG Resources in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein dropped their price objective on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus price target 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.