Punch & Associates Investment Management Inc. Invests $11.75 Million in EOG Resources, Inc. $EOG

Punch & Associates Investment Management Inc. bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 90,539 shares of the energy exploration company’s stock, valued at approximately $11,746,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in EOG Resources in the second quarter worth $5,905,587,000. Bank of New York Mellon Corp acquired a new stake in shares of EOG Resources during the second quarter worth about $654,899,000. Bank of America Corp DE bought a new position in shares of EOG Resources during the 2nd quarter valued at about $551,321,000. Deutsche Bank AG bought a new position in shares of EOG Resources during the 2nd quarter valued at about $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of EOG Resources in the 2nd quarter valued at approximately $168,029,000. 89.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on EOG. Citigroup lowered their target price on EOG Resources from $147.00 to $141.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Raymond James Financial reiterated a “strong-buy” rating and issued a $183.00 price target on shares of EOG Resources in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of EOG Resources in a research report on Friday, August 7th. Susquehanna restated a “positive” rating and set a $170.00 price objective (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Finally, Stephens cut their price objective on shares of EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $156.00.

EOG Resources Price Performance

Shares of EOG opened at $144.95 on Thursday. The stock has a market capitalization of $76.03 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.54 and a beta of 0.25. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $153.67. The company has a 50 day moving average of $139.64 and a 200-day moving average of $135.92. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the previous year, the firm posted $2.32 earnings per share. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities research analysts forecast that EOG Resources, Inc. will post 16.87 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources’s payout ratio is 31.75%.

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.