Bridges Investment Management Inc. Grows Stake in EOG Resources, Inc. (NYSE:EOG)

Bridges Investment Management Inc. boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 120.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 351,177 shares of the energy exploration company’s stock after purchasing an additional 191,648 shares during the quarter. Bridges Investment Management Inc. owned about 0.06% of EOG Resources worth $44,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of EOG. Riverview Trust Co purchased a new position in EOG Resources during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources during the 2nd quarter worth $28,000. Gladius Capital Management LP purchased a new position in EOG Resources during the 2nd quarter worth $30,000. Sachetta LLC purchased a new position in EOG Resources during the 4th quarter worth $33,000. Finally, Triad Wealth Partners LLC purchased a new position in EOG Resources during the 2nd quarter worth $35,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EOG. Susquehanna reduced their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Scotiabank reduced their price target on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday. Wolfe Research began coverage on EOG Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, UBS Group reduced their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday. Fourteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $142.89.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s 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 completion of the sale, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is currently owned by insiders.

EOG Resources Stock Up 0.7 %

EOG Resources stock opened at $125.20 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The business’s 50-day simple moving average is $125.70 and its two-hundred day simple moving average is $126.42. The company has a market cap of $71.95 billion, a PE ratio of 9.89, a PEG ratio of 2.95 and a beta of 1.28. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.49 EPS. Equities analysts anticipate that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.91%. EOG Resources’s payout ratio is presently 28.75%.

EOG Resources Profile

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.