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

The Manufacturers Life Insurance Company decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,624 shares of the energy exploration company’s stock after selling 30,345 shares during the period. The Manufacturers Life Insurance Company’s holdings in EOG Resources were worth $50,157,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of EOG Resources during the second quarter valued at $5,905,587,000. State Street Corp raised its position in EOG Resources by 0.3% in the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock worth $3,209,365,000 after buying an additional 100,080 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in EOG Resources by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after acquiring an additional 371,548 shares during the period. Geode Capital Management LLC grew its stake in shares of EOG Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock worth $1,364,309,000 after acquiring an additional 95,260 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of EOG Resources by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,507,760 shares of the energy exploration company’s stock worth $683,382,000 after acquiring an additional 122,112 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EOG shares. Susquehanna restated a “positive” rating and set a $170.00 price objective (up from $166.00) on shares of EOG Resources in a research report on Tuesday, July 21st. Zacks Research lowered shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Roth Capital reissued a “neutral” rating and set a $138.00 price target on shares of EOG Resources in a report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their price target on EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Finally, Truist Financial lifted their price objective on EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $156.00.

EOG Resources Stock Performance

EOG opened at $144.95 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. The company has a market cap of $76.03 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 0.54 and a beta of 0.25. The company’s 50 day moving average is $139.64 and its 200 day moving average is $135.92. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $153.67.

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

EOG Resources Dividend Announcement

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

Insider Activity

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 242,451 shares of the company’s stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

EOG Resources Company 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.