Madison Asset Management LLC Trims Stake in EOG Resources, Inc. $EOG

Madison Asset Management LLC lowered its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,540 shares of the energy exploration company’s stock after selling 4,304 shares during the period. Madison Asset Management LLC’s holdings in EOG Resources were worth $12,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. raised its stake in EOG Resources by 4.2% in the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock valued at $736,712,000 after purchasing an additional 249,984 shares in the last quarter. Invesco Ltd. increased its holdings in shares of EOG Resources by 7.0% in the 2nd quarter. Invesco Ltd. now owns 4,494,503 shares of the energy exploration company’s stock worth $537,588,000 after buying an additional 294,641 shares during the last quarter. First Trust Advisors LP raised its position in shares of EOG Resources by 64.1% during the 2nd quarter. First Trust Advisors LP now owns 3,728,128 shares of the energy exploration company’s stock valued at $445,921,000 after buying an additional 1,456,928 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of EOG Resources by 6.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,899,816 shares of the energy exploration company’s stock valued at $322,663,000 after buying an additional 184,387 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of EOG Resources by 3.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,404,655 shares of the energy exploration company’s stock worth $269,610,000 after acquiring an additional 76,967 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 4.9%

Shares of NYSE EOG opened at $118.17 on Thursday. The company has a market cap of $64.12 billion, a price-to-earnings ratio of 11.77 and a beta of 0.49. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $107.77 and its 200 day moving average is $111.46. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $135.87.

Analysts Set New Price Targets

A number of research analysts recently commented on EOG shares. Wells Fargo & Company reissued an “overweight” rating and issued a $127.00 target price (up previously from $126.00) on shares of EOG Resources in a research note on Tuesday, January 27th. Zacks Research lowered EOG Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Susquehanna decreased their price objective on EOG Resources from $161.00 to $151.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Scotiabank set a $123.00 target price on EOG Resources and gave the stock a “sector perform” rating in a research report on Friday, January 16th. Finally, UBS Group reiterated a “buy” rating and set a $141.00 price target (down from $144.00) on shares of EOG Resources in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and a consensus target price of $134.07.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the sale, the chief operating officer directly owned 54,979 shares in the company, valued at approximately $5,810,180.72. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

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.