EOG Resources Inc (EOG) Holdings Trimmed by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. reduced its stake in shares of EOG Resources Inc (NYSE:EOG) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,014 shares of the energy exploration company’s stock after selling 7,426 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of EOG Resources worth $43,056,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in EOG. Swedbank acquired a new position in EOG Resources during the 1st quarter worth $127,489,000. Chevy Chase Trust Holdings Inc. acquired a new position in EOG Resources during the 2nd quarter worth $104,146,000. Fenimore Asset Management Inc. acquired a new position in EOG Resources during the 2nd quarter worth $86,564,000. Northside Capital Management LLC acquired a new position in EOG Resources during the 2nd quarter worth $79,851,000. Finally, Findlay Park Partners LLP grew its holdings in EOG Resources by 45.1% during the 2nd quarter. Findlay Park Partners LLP now owns 1,924,467 shares of the energy exploration company’s stock worth $239,461,000 after acquiring an additional 597,717 shares in the last quarter. 86.02% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on EOG shares. TD Securities raised their price target on shares of EOG Resources from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Morgan Stanley started coverage on shares of EOG Resources in a research report on Thursday, July 12th. They issued an “equal weight” rating and a $128.00 price target on the stock. Zacks Investment Research upgraded shares of EOG Resources from a “hold” rating to a “strong-buy” rating and set a $142.00 price target on the stock in a research report on Monday, July 9th. Societe Generale upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Finally, Mizuho started coverage on shares of EOG Resources in a research report on Monday, July 23rd. They issued a “buy” rating and a $173.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. EOG Resources has an average rating of “Buy” and an average price target of $135.33.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. EOG Resources had a net margin of 27.81% and a return on equity of 12.38%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm earned $0.08 EPS. EOG Resources’s revenue was up 62.2% on a year-over-year basis. research analysts expect that EOG Resources Inc will post 5.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from EOG Resources’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, October 16th. EOG Resources’s payout ratio is 66.07%.
In other news, Director Donald F. Textor sold 1,864 shares of EOG Resources stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $122.88, for a total value of $229,048.32. Following the transaction, the director now owns 118,263 shares of the company’s stock, valued at approximately $14,532,157.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Thomas sold 57,065 shares of EOG Resources stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $122.36, for a total transaction of $6,982,473.40. Following the completion of the transaction, the chief executive officer now directly owns 755,519 shares in the company, valued at approximately $92,445,304.84. The disclosure for this sale can be found here. Insiders have sold a total of 114,815 shares of company stock worth $13,821,159 over the last 90 days. 0.51% of the stock is owned by insiders.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
Further Reading: What is the NASDAQ Stock Market?
Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.