Penobscot Investment Management Company Inc. Purchases New Stake in EOG Resources, Inc. $EOG

Penobscot Investment Management Company Inc. acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,280 shares of the energy exploration company’s stock, valued at approximately $452,000.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of EOG Resources in the second quarter valued at $5,905,587,000. Dimensional Fund Advisors LP increased its holdings in EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after buying an additional 54,091 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in EOG Resources by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock worth $712,583,000 after buying an additional 259,015 shares during the last quarter. Bank of America Corp DE bought a new stake in EOG Resources during the second quarter worth $551,321,000. Finally, First Trust Advisors LP raised its position in EOG Resources by 15.7% during the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock worth $498,189,000 after acquiring an additional 468,090 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on EOG shares. Mizuho set a $165.00 price target on shares of EOG Resources in a research note on Thursday, October 15th. Morgan Stanley boosted their price objective on shares of EOG Resources from $157.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 target price on shares of EOG Resources in a report on Saturday, October 3rd. Finally, Citigroup reiterated a “neutral” rating and issued a $150.00 target price (up from $141.00) on shares of EOG Resources in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.24.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $160.84 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $165.11. The stock has a 50 day moving average of $148.54 and a 200-day moving average of $136.17. The company has a market capitalization of $84.37 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.58 and a beta of 0.36.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same period in the previous year, the firm earned $2.32 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, equities research analysts predict that EOG Resources, Inc. will post 17.70 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed 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. This represents a $4.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s payout ratio is 31.75%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey Leitzell sold 9,039 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the transaction, the chief operating officer directly owned 90,790 shares in the company, valued at $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Donaldson sold 7,336 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the transaction, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. This represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,317 shares of company stock valued at $7,823,480 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

EOG Resources Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.