EOG Resources, Inc. (NYSE:EOG) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in EOG Resources, Inc. (NYSE:EOG) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,300 shares of the energy exploration company’s stock after selling 900 shares during the quarter. Gabelli Funds LLC’s holdings in EOG Resources were worth $21,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Riverview Trust Co acquired a new position in EOG Resources during the second quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $28,000. Gladius Capital Management LP purchased a new stake in EOG Resources in the 2nd quarter valued at approximately $30,000. Triad Wealth Partners LLC acquired a new stake in EOG Resources during the 2nd quarter valued at $35,000. Finally, Norwood Financial Corp purchased a new position in EOG Resources during the first quarter worth $37,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EOG. UBS Group decreased their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Scotiabank decreased their price target on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Bank of America reissued a “buy” rating and issued a $151.00 price objective on shares of EOG Resources in a research report on Friday, June 14th. Morgan Stanley decreased their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, KeyCorp initiated coverage on EOG Resources in a report on Thursday, June 27th. They issued an “overweight” rating and a $157.00 price target for the company. Fourteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $142.89.

EOG Resources Trading Up 0.7 %

NYSE EOG opened at $126.03 on Monday. The firm has a market capitalization of $72.43 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company’s 50 day moving average price is $125.65 and its 200 day moving average price is $126.63.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is 28.75%.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on 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 owns 74,250 shares in the company, valued at approximately $9,615,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is currently 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.