Douglas Lane & Associates LLC Trims Stake in EOG Resources, Inc. $EOG

Douglas Lane & Associates LLC lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 6.4% in the third quarter, Holdings Channel.com reports. The fund owned 401,058 shares of the energy exploration company’s stock after selling 27,490 shares during the quarter. Douglas Lane & Associates LLC’s holdings in EOG Resources were worth $55,250,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in EOG Resources in the second quarter valued at about $5,905,587,000. Dimensional Fund Advisors LP raised its position in shares of EOG Resources by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after acquiring an additional 54,091 shares during the period. Bank of New York Mellon Corp bought a new position in EOG Resources during the 2nd quarter worth approximately $654,899,000. Bank of America Corp DE bought a new position in EOG Resources during the 2nd quarter worth approximately $551,321,000. Finally, First Trust Advisors LP grew its holdings in EOG Resources by 15.7% during the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after purchasing an additional 468,090 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the sale, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 9,039 shares of EOG Resources stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the transaction, the chief operating officer directly owned 90,790 shares of the company’s stock, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,317 shares of company stock worth $7,823,480 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

EOG Resources Stock Up 0.3%

EOG Resources stock traded up $0.46 during mid-day trading on Friday, reaching $148.97. The company’s stock had a trading volume of 907,556 shares, compared to its average volume of 4,067,102. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $154.16. The business’s 50 day simple moving average is $144.51 and its 200 day simple moving average is $139.91. The company has a market capitalization of $78.14 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.36.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 EPS. As a group, research analysts anticipate that EOG Resources, Inc. will post 17.07 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. EOG Resources’s dividend payout ratio is currently 31.75%.

Analysts Set New Price Targets

EOG has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Roth Capital restated a “neutral” rating and issued a $138.00 price objective on shares of EOG Resources in a research report on Wednesday, August 5th. Morgan Stanley set a $157.00 target price on EOG Resources and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. 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 report on Tuesday, June 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price objective on shares of EOG Resources in a research report on Saturday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eighteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $159.23.

EOG Resources Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.