Johnston Asset Management LLC Sells 8,350 Shares of EOG Resources Inc. (EOG)
Johnston Asset Management LLC cut its position in shares of EOG Resources Inc. (NYSE:EOG) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,320 shares of the energy exploration company’s stock after selling 8,350 shares during the period. Johnston Asset Management LLC’s holdings in EOG Resources were worth $18,963,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EOG. Ropes Wealth Advisors LLC raised its position in EOG Resources by 38.8% in the first quarter. Ropes Wealth Advisors LLC now owns 2,575 shares of the energy exploration company’s stock worth $187,000 after buying an additional 720 shares in the last quarter. Berkshire Asset Management LLC PA purchased a new position in EOG Resources during the second quarter worth approximately $209,000. Rehmann Capital Advisory Group purchased a new position in EOG Resources during the second quarter worth approximately $210,000. Community Bank & Trust Waco Texas purchased a new position in EOG Resources during the second quarter worth approximately $217,000. Finally, Advisory Services Network LLC raised its position in EOG Resources by 27.3% in the second quarter. Advisory Services Network LLC now owns 2,623 shares of the energy exploration company’s stock worth $219,000 after buying an additional 562 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.
Shares of EOG Resources Inc. (NYSE:EOG) traded down 0.62% on Monday, reaching $96.11. 2,318,565 shares of the company were exchanged. EOG Resources Inc. has a 52 week low of $57.15 and a 52 week high of $97.20. The stock’s market capitalization is $52.92 billion. The firm’s 50 day moving average price is $91.35 and its 200 day moving average price is $83.17.
EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Friday, August 5th. The energy exploration company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. The company earned $1.78 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was down 28.1% on a year-over-year basis. Equities research analysts anticipate that EOG Resources Inc. will post ($1.67) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a dividend of $0.1675 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.67 dividend on an annualized basis and a yield of 0.70%. EOG Resources’s payout ratio is -7.14%.
A number of research analysts have recently commented on EOG shares. Citigroup Inc. reduced their price target on shares of EOG Resources from $104.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, September 22nd. Credit Agricole SA restated a “sell” rating on shares of EOG Resources in a research report on Tuesday, August 16th. Deutsche Bank AG upgraded shares of EOG Resources from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $96.00 in a research report on Friday, August 5th. Wunderlich upgraded shares of EOG Resources from a “hold” rating to a “buy” rating and boosted their price target for the company from $79.00 to $104.00 in a research report on Monday, August 8th. Finally, Tudor Pickering lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. EOG Resources has an average rating of “Hold” and a consensus target price of $91.96.
In other news, VP Ann D. Janssen sold 1,310 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $94.13, for a total value of $123,310.30. Following the completion of the sale, the vice president now owns 54,073 shares in the company, valued at approximately $5,089,891.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lloyd W. Helms, Jr. sold 4,875 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $81.82, for a total transaction of $398,872.50. Following the completion of the sale, the executive vice president now owns 59,032 shares of the company’s stock, valued at approximately $4,829,998.24. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
About EOG Resources
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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