Man Group plc Sells 371,580 Shares of EOG Resources, Inc. $EOG

Man Group plc trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG) by 58.1% during the 2nd quarter, Holdings Channel reports. The fund owned 268,117 shares of the energy exploration company’s stock after selling 371,580 shares during the period. Man Group plc’s holdings in EOG Resources were worth $34,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EOG. Sivia Capital Partners LLC bought a new stake in EOG Resources in the second quarter worth $258,000. Quantbot Technologies LP bought a new position in EOG Resources during the second quarter valued at $349,000. Gamco Investors INC. ET AL lifted its position in EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock valued at $785,000 after purchasing an additional 4,485 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of EOG Resources by 2.0% in the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock worth $2,725,000 after buying an additional 444 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of EOG Resources by 4.4% in the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after buying an additional 15,250 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on EOG shares. Wall Street Zen cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Freedom Capital lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Barclays set a $147.00 price objective on EOG Resources and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Mizuho set a $157.00 price objective on EOG Resources and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company reaffirmed 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $156.00.

EOG Resources Price Performance

EOG stock opened at $144.95 on Thursday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $139.64 and a 200 day moving average price of $135.92. The stock has a market cap of $76.03 billion, a PE ratio of 11.28, a P/E/G ratio of 0.54 and a beta of 0.25.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the firm posted $2.32 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. Equities research analysts anticipate that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. EOG Resources’s dividend payout ratio is currently 31.75%.

Insider Activity at EOG Resources

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.