The Manufacturers Life Insurance Company Lowers Holdings in EOG Resources, Inc. $EOG

The Manufacturers Life Insurance Company reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 416,969 shares of the energy exploration company’s stock after selling 13,643 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in EOG Resources were worth $60,283,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. SJS Investment Consulting Inc. boosted its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Financial Life Planners purchased a new position in EOG Resources during the first quarter valued at approximately $30,000. Acumen Wealth Advisors LLC acquired a new position in EOG Resources in the fourth quarter valued at approximately $25,000. Prosperity Bancshares Inc acquired a new position in EOG Resources in the fourth quarter valued at approximately $26,000. Finally, Global Assets Advisory LLC acquired a new position in EOG Resources in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 4.5%

Shares of EOG opened at $145.89 on Thursday. The firm has a market cap of $77.70 billion, a P/E ratio of 14.36 and a beta of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The stock’s 50 day moving average is $136.69 and its two-hundred day moving average is $130.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the prior year, the company posted $2.87 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Analysts predict that EOG Resources, Inc. will post 16.16 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s payout ratio is presently 40.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EOG shares. Wells Fargo & Company set a $196.00 price objective on shares of EOG Resources and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. UBS Group decreased their target price on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Raymond James Financial lowered their price target on shares of EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a report on Monday, June 22nd. DA Davidson raised their price target on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Capital One Financial decreased their price objective on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.32.

EOG Resources Profile

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.