Douglas Lane & Associates LLC Decreases Holdings in EOG Resources, Inc. (NYSE:EOG)

Douglas Lane & Associates LLC trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 501,089 shares of the energy exploration company’s stock after selling 11,833 shares during the period. Douglas Lane & Associates LLC owned 0.09% of EOG Resources worth $61,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in EOG Resources in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the 2nd quarter valued at about $28,000. Gladius Capital Management LP bought a new position in shares of EOG Resources during the second quarter worth about $30,000. Triad Wealth Partners LLC acquired a new position in EOG Resources in the second quarter worth about $35,000. Finally, Norwood Financial Corp bought a new stake in EOG Resources in the first quarter valued at about $37,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wolfe Research initiated coverage on EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $147.00 price objective on shares of EOG Resources in a report on Wednesday, July 10th. Wells Fargo & Company decreased their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Susquehanna decreased their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Barclays decreased their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $141.65.

EOG Resources Price Performance

NYSE:EOG traded up $0.26 during mid-day trading on Friday, reaching $132.45. 1,460,830 shares of the stock were exchanged, compared to its average volume of 3,197,432. The business has a fifty day moving average price of $125.89 and a 200 day moving average price of $127.14. The firm has a market capitalization of $76.12 billion, a PE ratio of 10.46, a PEG ratio of 3.38 and a beta of 1.28. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. EOG Resources’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 earnings per share. Research analysts expect that EOG Resources, Inc. will post 11.83 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.75%. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is owned by corporate insiders.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.