Barings LLC Trims Position in EOG Resources, Inc. (NYSE:EOG)

Barings LLC reduced its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,079 shares of the energy exploration company’s stock after selling 1,289 shares during the period. Barings LLC’s holdings in EOG Resources were worth $10,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EOG. Riverview Trust Co purchased a new stake in EOG Resources in the second quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources in the 2nd quarter valued at about $28,000. Gladius Capital Management LP acquired a new stake in EOG Resources during the second quarter worth about $30,000. Sachetta LLC purchased a new position in EOG Resources during the fourth quarter valued at approximately $33,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of EOG Resources during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Ratings Changes

EOG has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Bank of America restated a “buy” rating and issued a $151.00 price target on shares of EOG Resources in a research note on Friday, June 14th. UBS Group increased their price target on EOG Resources from $166.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $147.00 price objective on shares of EOG Resources in a research report on Wednesday, July 10th. Finally, Wolfe Research assumed coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Thirteen equities research 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 stock. According to MarketBeat, EOG Resources currently has a consensus rating of “Hold” and a consensus target price of $143.95.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares in the company, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $117.82 on Thursday. The company has a market capitalization of $67.71 billion, a PE ratio of 9.31, a P/E/G ratio of 3.01 and a beta of 1.28. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a 50-day simple moving average of $126.21 and a 200-day simple moving average of $126.17. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same period in the previous year, the firm earned $2.49 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts predict that EOG Resources, Inc. will post 12.2 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a dividend yield of 3.09%. EOG Resources’s dividend payout ratio is currently 28.75%.

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.