Madison Asset Management LLC Trims Stake in EOG Resources, Inc. $EOG

Madison Asset Management LLC reduced its stake in EOG Resources, Inc. (NYSE:EOG) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,794 shares of the energy exploration company’s stock after selling 4,467 shares during the period. Madison Asset Management LLC’s holdings in EOG Resources were worth $10,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Csenge Advisory Group boosted its position in EOG Resources by 3.6% during the 2nd quarter. Csenge Advisory Group now owns 5,374 shares of the energy exploration company’s stock valued at $697,000 after acquiring an additional 186 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $59,000. Johnson Financial Group Inc. lifted its stake in shares of EOG Resources by 2.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 29,824 shares of the energy exploration company’s stock valued at $3,869,000 after purchasing an additional 679 shares during the period. West Family Investments Inc. purchased a new position in shares of EOG Resources in the 2nd quarter valued at approximately $908,000. Finally, Essential Partners LLC boosted its position in shares of EOG Resources by 491.1% during the second quarter. Essential Partners LLC now owns 733 shares of the energy exploration company’s stock valued at $95,000 after purchasing an additional 609 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EOG shares. DA Davidson upped their price target on EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group lowered their price objective on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Morgan Stanley set a $157.00 target price on shares of EOG Resources and gave the company an “equal weight” rating in a report on Wednesday. Barclays set a $147.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research note on Monday. Finally, Roth Capital reissued a “neutral” rating and set a $138.00 price target on shares of EOG Resources in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $155.41.

EOG Resources Price Performance

EOG opened at $149.54 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The stock has a market capitalization of $78.44 billion, a P/E ratio of 11.64 and a beta of 0.25. The company’s 50-day simple moving average is $138.10 and its two-hundred day simple moving average is $134.59. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same period in the previous year, the business posted $2.32 earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, analysts predict that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.7%. EOG Resources’s dividend payout ratio (DPR) is currently 31.75%.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.