EOG Resources Inc (EOG) Stake Lifted by First Republic Investment Management Inc.
First Republic Investment Management Inc. lifted its stake in shares of EOG Resources Inc (NYSE:EOG) by 13.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 180,708 shares of the energy exploration company’s stock after acquiring an additional 22,017 shares during the period. First Republic Investment Management Inc.’s holdings in EOG Resources were worth $22,485,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in EOG. Optimum Investment Advisors purchased a new position in EOG Resources in the first quarter valued at approximately $109,000. Transamerica Financial Advisors Inc. purchased a new position in EOG Resources in the second quarter valued at approximately $158,000. Citizens Financial Group Inc RI raised its holdings in EOG Resources by 41.8% in the first quarter. Citizens Financial Group Inc RI now owns 1,546 shares of the energy exploration company’s stock valued at $162,000 after buying an additional 456 shares during the period. Kaizen Advisory LLC raised its holdings in EOG Resources by 133.6% in the second quarter. Kaizen Advisory LLC now owns 1,301 shares of the energy exploration company’s stock valued at $162,000 after buying an additional 744 shares during the period. Finally, First Personal Financial Services raised its holdings in EOG Resources by 49.4% in the first quarter. First Personal Financial Services now owns 1,573 shares of the energy exploration company’s stock valued at $166,000 after buying an additional 520 shares during the period. Institutional investors and hedge funds own 86.02% of the company’s stock.
In other EOG Resources news, Director Donald F. Textor sold 1,864 shares of the stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $122.88, for a total value of $229,048.32. Following the completion of the sale, the director now owns 118,263 shares of the company’s stock, valued at $14,532,157.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Gary L. Thomas sold 55,886 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $118.27, for a total transaction of $6,609,637.22. Following the completion of the sale, the president now directly owns 1,131,797 shares of the company’s stock, valued at approximately $133,857,631.19. The disclosure for this sale can be found here. Insiders sold 114,815 shares of company stock valued at $13,821,159 in the last ninety days. 0.51% of the stock is owned by corporate insiders.
EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.13. EOG Resources had a net margin of 27.81% and a return on equity of 12.38%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the company earned $0.08 earnings per share. EOG Resources’s revenue for the quarter was up 62.2% on a year-over-year basis. analysts anticipate that EOG Resources Inc will post 5.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be given a $0.22 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.88 annualized dividend and a yield of 0.77%. EOG Resources’s dividend payout ratio (DPR) is 66.07%.
Several research analysts recently commented on EOG shares. Stifel Nicolaus set a $147.00 price target on shares of EOG Resources and gave the company a “buy” rating in a report on Friday, August 3rd. Mizuho started coverage on shares of EOG Resources in a report on Monday, July 23rd. They issued a “buy” rating and a $173.00 price target on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $143.00 price target on shares of EOG Resources in a report on Friday, July 20th. TD Securities started coverage on shares of EOG Resources in a report on Thursday, July 5th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Societe Generale upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $135.33.
EOG Resources 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 United Kingdom, the People's Republic of China, and Canada.
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