Man Group plc Sells 371,580 Shares of EOG Resources, Inc. $EOG

Man Group plc lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 58.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 268,117 shares of the energy exploration company’s stock after selling 371,580 shares during the quarter. Man Group plc owned 0.05% of EOG Resources worth $34,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Ilmarinen Mutual Pension Insurance Co grew its holdings in EOG Resources by 39.2% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock valued at $9,136,000 after purchasing an additional 24,500 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of EOG Resources by 66.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company’s stock worth $2,073,000 after buying an additional 7,877 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of EOG Resources by 2.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company’s stock valued at $123,451,000 after buying an additional 24,984 shares in the last quarter. Cumberland Partners Ltd grew its stake in shares of EOG Resources by 432.0% during the 4th quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company’s stock valued at $1,625,000 after acquiring an additional 12,562 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of EOG Resources by 8.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company’s stock valued at $32,541,000 after acquiring an additional 24,960 shares during the period. 89.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other EOG Resources 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 value of $5,466,778.20. Following the sale, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

EOG Resources Trading Down 1.3%

EOG stock opened at $144.95 on Thursday. The company has a market capitalization 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 has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $153.67. The business has a 50 day simple moving average of $139.64 and a two-hundred day simple moving average of $135.92.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping 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 firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the previous year, the firm earned $2.32 earnings per share. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts anticipate that EOG Resources, Inc. will post 16.87 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s payout ratio is currently 31.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EOG shares. Morgan Stanley set a $157.00 target price on shares of EOG Resources and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Sanford C. Bernstein decreased their price objective on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 20th. UBS Group lowered their target price on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Barclays set a $147.00 price target on EOG Resources and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Finally, Mizuho set a $157.00 price target on EOG Resources and gave the company a “neutral” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.00.

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.