Cornerstone Advisors LLC Lowers Position in EOG Resources, Inc. (NYSE:EOG)

Cornerstone Advisors LLC decreased its position in EOG Resources, Inc. (NYSE:EOG) by 29.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the energy exploration company’s stock after selling 3,100 shares during the period. Cornerstone Advisors LLC’s holdings in EOG Resources were worth $944,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in EOG Resources by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,473,897 shares of the energy exploration company’s stock worth $563,070,000 after buying an additional 258,732 shares in the last quarter. Waycross Partners LLC boosted its holdings in EOG Resources by 13.1% during the second quarter. Waycross Partners LLC now owns 84,965 shares of the energy exploration company’s stock worth $10,695,000 after buying an additional 9,847 shares in the last quarter. Rathbones Group PLC boosted its holdings in EOG Resources by 4.1% during the second quarter. Rathbones Group PLC now owns 30,234 shares of the energy exploration company’s stock worth $3,806,000 after buying an additional 1,190 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in EOG Resources by 185.4% during the second quarter. Plato Investment Management Ltd now owns 1,627 shares of the energy exploration company’s stock worth $205,000 after buying an additional 1,057 shares in the last quarter. Finally, Pinion Investment Advisors LLC boosted its holdings in EOG Resources by 8.1% during the second quarter. Pinion Investment Advisors LLC now owns 4,280 shares of the energy exploration company’s stock worth $539,000 after buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on EOG shares. KeyCorp started coverage on shares of EOG Resources in a report on Thursday, June 27th. They set an “overweight” rating and a $157.00 price objective on the stock. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday. Scotiabank reduced their price target on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Bank of America reaffirmed a “buy” rating and issued a $151.00 price target on shares of EOG Resources in a report on Friday, June 14th. Finally, Susquehanna reduced their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Fourteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $143.58.

EOG Resources Stock Performance

Shares of EOG stock opened at $121.67 on Tuesday. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The company has a 50 day moving average price of $125.85 and a 200 day moving average price of $126.39. The firm has a market capitalization of $69.93 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the prior year, the business posted $2.49 earnings per share. EOG Resources’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.99%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. Insiders own 0.30% of the company’s stock.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.