Northside Capital Management LLC Trims Stake in EOG Resources, Inc. $EOG

Northside Capital Management LLC lessened its position in shares of EOG Resources, Inc. (NYSE:EOG) by 24.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 159,957 shares of the energy exploration company’s stock after selling 51,383 shares during the quarter. EOG Resources accounts for about 1.6% of Northside Capital Management LLC’s holdings, making the stock its 19th biggest position. Northside Capital Management LLC’s holdings in EOG Resources were worth $17,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Assenagon Asset Management S.A. grew its position in EOG Resources by 50.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 458,430 shares of the energy exploration company’s stock worth $51,399,000 after purchasing an additional 153,513 shares during the last quarter. Oak Thistle LLC purchased a new position in EOG Resources during the third quarter worth about $520,000. Moody National Bank Trust Division lifted its holdings in shares of EOG Resources by 8.3% in the 3rd quarter. Moody National Bank Trust Division now owns 12,589 shares of the energy exploration company’s stock valued at $1,411,000 after buying an additional 965 shares during the period. City Center Advisors LLC boosted its position in shares of EOG Resources by 12.2% during the 3rd quarter. City Center Advisors LLC now owns 1,973 shares of the energy exploration company’s stock worth $221,000 after purchasing an additional 215 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new stake in shares of EOG Resources during the 3rd quarter valued at approximately $339,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EOG shares. Siebert Williams Shank dropped their price target on EOG Resources from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Melius Research initiated coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a “buy” rating and a $173.00 target price for the company. KeyCorp cut their target price on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Morgan Stanley increased their price target on shares of EOG Resources from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Thursday, November 20th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $153.00 price objective on shares of EOG Resources in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.29.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $101.83 on Wednesday. The company has a market cap of $55.25 billion, a P/E ratio of 10.14, a P/E/G ratio of 8.02 and a beta of 0.49. The business has a fifty day simple moving average of $107.74 and a 200-day simple moving average of $114.97. EOG Resources, Inc. has a 52 week low of $101.69 and a 52 week high of $138.18. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the company earned $2.89 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a dividend yield of 4.0%. EOG Resources’s payout ratio is currently 40.64%.

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.