Huntington National Bank decreased its holdings in EOG Resources Inc (NYSE:EOG) by 24.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,738 shares of the energy exploration company’s stock after selling 6,916 shares during the period. Huntington National Bank’s holdings in EOG Resources were worth $1,102,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in EOG. Capital International Investors increased its position in shares of EOG Resources by 28.3% during the first quarter. Capital International Investors now owns 55,138,808 shares of the energy exploration company’s stock worth $1,980,582,000 after acquiring an additional 12,170,763 shares during the period. BlackRock Inc. increased its holdings in EOG Resources by 8.7% in the first quarter. BlackRock Inc. now owns 39,958,429 shares of the energy exploration company’s stock valued at $1,435,306,000 after buying an additional 3,205,740 shares in the last quarter. Sanders Capital LLC increased its stake in shares of EOG Resources by 247.7% during the first quarter. Sanders Capital LLC now owns 3,361,174 shares of the energy exploration company’s stock worth $155,662,000 after purchasing an additional 2,394,494 shares in the last quarter. State Street Corp increased its stake in shares of EOG Resources by 8.5% during the first quarter. State Street Corp now owns 30,595,808 shares of the energy exploration company’s stock worth $1,099,001,000 after purchasing an additional 2,394,120 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of EOG Resources by 62.3% during the first quarter. Wellington Management Group LLP now owns 5,705,676 shares of the energy exploration company’s stock worth $204,948,000 after purchasing an additional 2,189,181 shares in the last quarter. 87.42% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on EOG shares. Wolfe Research cut shares of EOG Resources from an “outperform” rating to a “peer perform” rating and dropped their price objective for the company from $60.00 to $54.00 in a research note on Wednesday, July 15th. Barclays upped their price objective on shares of EOG Resources from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Credit Suisse Group upped their target price on shares of EOG Resources from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley increased their price objective on shares of EOG Resources from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Finally, ValuEngine raised shares of EOG Resources from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Twelve research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $67.84.
EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 7th. The energy exploration company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.11). The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $3.83 billion. EOG Resources had a net margin of 11.69% and a return on equity of 11.89%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS. As a group, analysts anticipate that EOG Resources Inc will post 0.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, July 16th. EOG Resources’s dividend payout ratio is 30.12%.
About EOG Resources
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 People's Republic of China, and Canada.
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