IBM Retirement Fund cut its stake in EOG Resources, Inc. (NYSE:EOG) by 88.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,150 shares of the energy exploration company’s stock after selling 45,939 shares during the period. IBM Retirement Fund’s holdings in EOG Resources were worth $800,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its position in shares of EOG Resources by 2.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,185,625 shares of the energy exploration company’s stock worth $322,067,000 after buying an additional 70,513 shares during the last quarter. First Citizens Bank Trust Co. bought a new position in shares of EOG Resources during the first quarter worth approximately $3,612,000. Capital International Inc. CA increased its position in shares of EOG Resources by 40.6% in the fourth quarter. Capital International Inc. CA now owns 49,840 shares of the energy exploration company’s stock worth $5,039,000 after buying an additional 14,390 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of EOG Resources during the first quarter worth approximately $5,899,000. Finally, Atria Investments LLC increased its position in shares of EOG Resources by 35.1% in the first quarter. Atria Investments LLC now owns 4,988 shares of the energy exploration company’s stock worth $487,000 after buying an additional 1,296 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of EOG Resources, Inc. (NYSE:EOG) opened at 91.87 on Monday. The stock has a 50 day moving average of $90.31 and a 200 day moving average of $96.67. EOG Resources, Inc. has a 12-month low of $78.04 and a 12-month high of $109.37. The company’s market cap is $53.03 billion.
EOG Resources (NYSE:EOG) last posted its earnings results on Monday, May 8th. The energy exploration company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. EOG Resources had a negative return on equity of 2.69% and a negative net margin of 6.70%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm earned ($0.83) earnings per share. The company’s revenue was up 92.8% on a year-over-year basis. On average, equities analysts expect that EOG Resources, Inc. will post $0.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be given a $0.1675 dividend. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, July 13th. EOG Resources’s payout ratio is currently -62.04%.
EOG has been the topic of a number of research analyst reports. FBR Co set a $122.00 price objective on shares of EOG Resources and gave the company an “outperform” rating in a research report on Wednesday, May 17th. Scotiabank set a $104.00 price objective on shares of EOG Resources and gave the company a “hold” rating in a research report on Monday, March 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price objective on shares of EOG Resources in a research report on Friday, May 26th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $114.00 price objective on shares of EOG Resources in a research report on Wednesday, May 31st. Finally, Atlantic Securities raised shares of EOG Resources from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $98.00 to $100.00 in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $108.37.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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