US Bancorp DE Cuts Holdings in EOG Resources Inc (EOG)

US Bancorp DE lowered its position in EOG Resources Inc (NYSE:EOG) by 4.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 119,919 shares of the energy exploration company’s stock after selling 6,029 shares during the period. US Bancorp DE’s holdings in EOG Resources were worth $11,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in EOG Resources by 7.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 95,547 shares of the energy exploration company’s stock worth $8,333,000 after buying an additional 6,689 shares in the last quarter. American International Group Inc. boosted its stake in EOG Resources by 5.7% in the fourth quarter. American International Group Inc. now owns 244,278 shares of the energy exploration company’s stock worth $21,303,000 after buying an additional 13,180 shares in the last quarter. Midwest Professional Planners LTD. purchased a new stake in EOG Resources in the first quarter worth approximately $212,000. KG&L Capital Management LLC purchased a new stake in EOG Resources in the first quarter worth approximately $388,000. Finally, Culbertson A N & Co. Inc. boosted its stake in EOG Resources by 1.4% in the first quarter. Culbertson A N & Co. Inc. now owns 39,524 shares of the energy exploration company’s stock worth $3,762,000 after buying an additional 544 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Shares of EOG Resources stock traded down $1.69 during midday trading on Friday, reaching $87.16. 3,757,479 shares of the company’s stock traded hands, compared to its average volume of 3,944,782. The company has a quick ratio of 0.94, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a market cap of $50.58 billion, a PE ratio of 15.73, a P/E/G ratio of 1.17 and a beta of 1.24. EOG Resources Inc has a 12 month low of $82.04 and a 12 month high of $133.53.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 2nd. The energy exploration company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.92 billion. EOG Resources had a return on equity of 17.10% and a net margin of 19.35%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, research analysts anticipate that EOG Resources Inc will post 5.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, July 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.22. EOG Resources’s dividend payout ratio is currently 15.88%.

Several analysts have issued reports on the company. Wells Fargo & Co assumed coverage on EOG Resources in a research note on Monday, May 20th. They issued an “outperform” rating and a $110.00 target price for the company. Zacks Investment Research raised EOG Resources from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday, May 9th. Morgan Stanley set a $108.00 price objective on EOG Resources and gave the company a “hold” rating in a research note on Wednesday, May 8th. Susquehanna Bancshares raised EOG Resources from a “neutral” rating to a “positive” rating and increased their price objective for the company from $107.00 to $115.00 in a research note on Monday, May 6th. Finally, ValuEngine lowered EOG Resources from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $121.84.

In related news, Director Frank G. Wisner sold 1,296 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $87.28, for a total transaction of $113,114.88. Following the completion of the transaction, the director now owns 120,052 shares in the company, valued at $10,478,138.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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EOG Resources Company 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 People's Republic of China, and Canada.

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

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