EOG Resources Inc (EOG) Position Trimmed by Madison Investment Holdings Inc.

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Madison Investment Holdings Inc. trimmed its holdings in shares of EOG Resources Inc (NYSE:EOG) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 193,060 shares of the energy exploration company’s stock after selling 4,992 shares during the period. Madison Investment Holdings Inc.’s holdings in EOG Resources were worth $24,022,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wesbanco Bank Inc. boosted its position in EOG Resources by 52.0% in the 2nd quarter. Wesbanco Bank Inc. now owns 151,223 shares of the energy exploration company’s stock valued at $18,817,000 after buying an additional 51,731 shares during the last quarter. Sterling Investment Management Inc. boosted its position in EOG Resources by 10.8% in the 2nd quarter. Sterling Investment Management Inc. now owns 16,974 shares of the energy exploration company’s stock valued at $2,112,000 after buying an additional 1,653 shares during the last quarter. Intrust Bank NA boosted its position in EOG Resources by 8.2% in the 2nd quarter. Intrust Bank NA now owns 8,607 shares of the energy exploration company’s stock valued at $1,070,000 after buying an additional 649 shares during the last quarter. People s United Financial Inc. boosted its position in EOG Resources by 0.7% in the 2nd quarter. People s United Financial Inc. now owns 110,126 shares of the energy exploration company’s stock valued at $13,703,000 after buying an additional 737 shares during the last quarter. Finally, Providence Capital Advisors LLC boosted its position in EOG Resources by 5.1% in the 2nd quarter. Providence Capital Advisors LLC now owns 19,769 shares of the energy exploration company’s stock valued at $2,460,000 after buying an additional 951 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

NYSE:EOG opened at $114.77 on Tuesday. EOG Resources Inc has a 12-month low of $81.99 and a 12-month high of $131.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.83 and a current ratio of 0.98. The firm has a market capitalization of $66.47 billion, a PE ratio of 102.47, a P/E/G ratio of 1.73 and a beta of 0.99.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.13. EOG Resources had a return on equity of 12.38% and a net margin of 27.81%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company earned $0.08 EPS. The firm’s revenue was up 62.2% on a year-over-year basis. analysts forecast that EOG Resources Inc will post 5.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 17th will be given a $0.22 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, October 16th. EOG Resources’s dividend payout ratio (DPR) is currently 66.07%.

EOG has been the topic of a number of recent research reports. TD Securities increased their price objective on EOG Resources from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Morgan Stanley initiated coverage on EOG Resources in a research report on Thursday, July 12th. They issued an “equal weight” rating and a $128.00 price objective on the stock. Zacks Investment Research upgraded EOG Resources from a “hold” rating to a “strong-buy” rating and set a $142.00 price objective on the stock in a research report on Monday, July 9th. Societe Generale upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Finally, Stifel Nicolaus set a $146.00 price objective on EOG Resources and gave the company a “buy” rating in a research report on Monday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. EOG Resources has a consensus rating of “Buy” and an average price target of $134.10.

In other EOG Resources news, Director Donald F. Textor sold 1,864 shares of EOG Resources stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $122.88, for a total transaction of $229,048.32. Following the transaction, the director now directly owns 118,263 shares in the company, valued at $14,532,157.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Thomas sold 57,065 shares of EOG Resources stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $122.36, for a total value of $6,982,473.40. Following the transaction, the chief executive officer now owns 755,519 shares in the company, valued at $92,445,304.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,815 shares of company stock worth $13,821,159. Corporate insiders own 0.51% of the company’s stock.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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