EOG Resources, Inc. $EOG Stock: Woodley Farra Manion Portfolio Management Inc. Trims Holdings

Woodley Farra Manion Portfolio Management Inc. decreased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,317 shares of the energy exploration company’s stock after selling 3,657 shares during the quarter. EOG Resources accounts for about 1.8% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 27th biggest position. Woodley Farra Manion Portfolio Management Inc. owned about 0.05% of EOG Resources worth $36,550,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in EOG Resources during the second quarter worth $5,905,587,000. Dimensional Fund Advisors LP boosted its position in EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after purchasing an additional 54,091 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in EOG Resources by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock valued at $712,583,000 after purchasing an additional 259,015 shares during the last quarter. Bank of America Corp DE acquired a new stake in EOG Resources in the second quarter valued at $551,321,000. Finally, First Trust Advisors LP grew its holdings in EOG Resources by 15.7% in the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after purchasing an additional 468,090 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, COO Jeffrey Leitzell sold 9,039 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the sale, the chief operating officer owned 90,790 shares in the company, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Donaldson sold 7,336 shares of EOG Resources stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the sale, the executive vice president directly owned 100,558 shares of the company’s stock, valued at $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 52,317 shares of company stock valued at $7,823,480. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EOG shares. Capital One Financial downgraded EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target for the company. in a research note on Wednesday, August 26th. Seaport Research Partners assumed coverage on shares of EOG Resources in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $186.00 target price (up from $183.00) on shares of EOG Resources in a research report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $162.32.

EOG Resources Stock Performance

NYSE EOG opened at $151.61 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.90 and a debt-to-equity ratio of 0.24. The stock has a market cap of $79.53 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.52 and a beta of 0.27. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $165.93. The business has a fifty day moving average of $149.54 and a 200-day moving average of $138.26.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.42. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $7.26 billion. EOG Resources had a net margin of 27.54% and a return on equity of 26.32%. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period last year, the company earned $2.71 EPS. As a group, analysts predict that EOG Resources, Inc. will post 17.72 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, January 15th. This is a positive change from EOG Resources’s previous quarterly dividend of $1.02. This represents a $4.40 annualized dividend and a dividend yield of 2.9%. EOG Resources’s payout ratio is currently 28.42%.

EOG Resources Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.