State of Michigan Retirement System lifted its position in shares of EOG Resources Inc (NYSE:EOG) by 11.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,624 shares of the energy exploration company’s stock after purchasing an additional 15,196 shares during the quarter. State of Michigan Retirement System’s holdings in EOG Resources were worth $7,529,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Trillium Asset Management LLC grew its holdings in shares of EOG Resources by 8.8% during the first quarter. Trillium Asset Management LLC now owns 95,290 shares of the energy exploration company’s stock valued at $3,423,000 after buying an additional 7,715 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in EOG Resources by 13.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 762,923 shares of the energy exploration company’s stock valued at $27,404,000 after purchasing an additional 92,310 shares during the last quarter. CIBC World Markets Inc. increased its holdings in EOG Resources by 42.9% during the 1st quarter. CIBC World Markets Inc. now owns 36,353 shares of the energy exploration company’s stock worth $1,306,000 after purchasing an additional 10,909 shares in the last quarter. DNB Asset Management AS increased its holdings in EOG Resources by 6.2% during the 2nd quarter. DNB Asset Management AS now owns 70,666 shares of the energy exploration company’s stock worth $3,580,000 after purchasing an additional 4,146 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of EOG Resources by 34.0% in the second quarter. Whittier Trust Co. now owns 116,995 shares of the energy exploration company’s stock worth $5,926,000 after purchasing an additional 29,706 shares during the last quarter. Institutional investors own 87.42% of the company’s stock.
Several equities research analysts recently issued reports on the company. ValuEngine upgraded EOG Resources from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Siebert Williams Shank started coverage on shares of EOG Resources in a research note on Monday, June 15th. They issued a “hold” rating and a $60.00 target price for the company. Wells Fargo & Co raised their price target on shares of EOG Resources from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. SunTrust Banks raised shares of EOG Resources from a “hold” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $70.00 in a research report on Friday, June 19th. Finally, Citigroup increased their price objective on shares of EOG Resources from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Twelve analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.84.
EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, May 7th. The energy exploration company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.11). EOG Resources had a return on equity of 11.89% and a net margin of 11.69%. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, analysts expect that EOG Resources Inc will post 0.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, July 16th. EOG Resources’s payout ratio is 30.12%.
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 People's Republic of China, and Canada.
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