Main Street Financial Solutions LLC Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Main Street Financial Solutions LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,261 shares of the energy exploration company’s stock after selling 101 shares during the quarter. Main Street Financial Solutions LLC’s holdings in EOG Resources were worth $662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EOG. Capital World Investors grew its stake in shares of EOG Resources by 59.2% during the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after purchasing an additional 9,455,621 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of EOG Resources by 26.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock worth $598,475,000 after purchasing an additional 1,029,727 shares during the period. Capital International Investors grew its stake in shares of EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares during the period. Capital Research Global Investors grew its stake in EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after acquiring an additional 373,365 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in EOG Resources by 237.9% in the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company’s stock valued at $61,741,000 after acquiring an additional 343,527 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EOG shares. Susquehanna lowered their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research started coverage on shares of EOG Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. UBS Group increased their price objective on shares of EOG Resources from $166.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Citigroup increased their price objective on shares of EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Finally, StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $143.63.

EOG Resources Trading Up 1.0 %

NYSE EOG opened at $119.37 on Friday. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company’s 50 day moving average price is $125.93 and its 200 day moving average price is $126.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The firm has a market capitalization of $67.87 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter last year, the company earned $2.49 earnings per share. EOG Resources’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.05%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 completion of the transaction, the chief operating officer now directly 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. Insiders sold 21,537 shares of company stock valued at $2,751,612 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

EOG Resources Profile

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.