Cambria Investment Management L.P. Cuts Stake in EOG Resources, Inc. $EOG

Cambria Investment Management L.P. cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 6.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 75,999 shares of the energy exploration company’s stock after selling 5,222 shares during the period. Cambria Investment Management L.P.’s holdings in EOG Resources were worth $8,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JCIC Asset Management Inc. purchased a new stake in shares of EOG Resources during the third quarter worth $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in EOG Resources in the second quarter valued at $35,000. Salomon & Ludwin LLC grew its stake in EOG Resources by 122.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 323 shares of the energy exploration company’s stock worth $36,000 after purchasing an additional 178 shares in the last quarter. Quent Capital LLC acquired a new position in EOG Resources during the 3rd quarter worth $37,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in EOG Resources during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $130.00, for a total transaction of $260,000.00. Following the transaction, the chief operating officer owned 88,045 shares in the company, valued at $11,445,850. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ann D. Janssen sold 2,597 shares of EOG Resources stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $134.31, for a total value of $348,803.07. Following the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $13,464,040.26. This trade represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,371 shares of company stock valued at $1,294,698. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EOG shares. Citigroup reaffirmed a “neutral” rating and issued a $115.00 price target (down from $125.00) on shares of EOG Resources in a research report on Wednesday, December 17th. Susquehanna lowered their price objective on EOG Resources from $151.00 to $144.00 and set a “positive” rating for the company in a research report on Thursday, February 26th. Scotiabank set a $123.00 target price on shares of EOG Resources and gave the stock a “sector perform” rating in a research note on Friday, January 16th. UBS Group raised their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Johnson Rice decreased their price target on shares of EOG Resources from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $138.23.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $137.65 on Thursday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $137.81. The firm has a market capitalization of $73.85 billion, a P/E ratio of 15.11, a P/E/G ratio of 3.67 and a beta of 0.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42. The company’s fifty day moving average price is $118.30 and its 200 day moving average price is $112.78.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.36 billion. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. EOG Resources’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.74 earnings per share. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. EOG Resources’s dividend payout ratio is 44.79%.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.