EOG Resources, Inc. $EOG Stake Lessened by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 65.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,846 shares of the energy exploration company’s stock after selling 9,306 shares during the quarter. Fulcrum Asset Management LLP’s holdings in EOG Resources were worth $677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in EOG Resources in the second quarter valued at approximately $5,905,587,000. Dimensional Fund Advisors LP lifted its stake in EOG Resources by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after acquiring an additional 54,091 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EOG Resources by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock worth $712,583,000 after acquiring an additional 259,015 shares during the last quarter. Bank of America Corp DE purchased a new position in EOG Resources in the second quarter worth approximately $551,321,000. Finally, First Trust Advisors LP grew its holdings in EOG Resources by 15.7% during the 1st quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock worth $498,189,000 after acquiring an additional 468,090 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Up 1.3%

NYSE EOG opened at $155.72 on Friday. The firm’s fifty day moving average price is $149.80 and its 200 day moving average price is $138.73. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $165.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.90 and a quick ratio of 1.74. The company has a market capitalization of $80.74 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.54 and a beta of 0.27.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.42. EOG Resources had a net margin of 27.54% and a return on equity of 26.32%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. EOG Resources’s revenue for the quarter was up 46.2% on a year-over-year basis. On average, sell-side analysts expect that EOG Resources, Inc. will post 17.96 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. The ex-dividend date is Friday, January 15th. EOG Resources’s payout ratio is presently 26.36%.

Insider Activity

In other news, COO Jeffrey Leitzell sold 9,039 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the sale, the chief operating officer directly owned 90,790 shares of the company’s stock, valued at approximately $12,765,981.90. The trade was a 9.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Donaldson sold 7,336 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 52,317 shares of company stock valued at $7,823,480. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price objective on shares of EOG Resources in a research report on Saturday, October 3rd. Barclays lifted their price objective on shares of EOG Resources from $147.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. Mizuho set a $165.00 price objective on shares of EOG Resources in a research report on Thursday, October 15th. Capital One Financial downgraded shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price for the company. in a research note on Wednesday, August 26th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $162.32.

EOG Resources Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.