Brown Brothers Harriman & Co. Trims Stock Position in EOG Resources, Inc. (NYSE:EOG)

Brown Brothers Harriman & Co. trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 13.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,060 shares of the energy exploration company’s stock after selling 11,328 shares during the period. Brown Brothers Harriman & Co.’s holdings in EOG Resources were worth $8,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EOG. Riverview Trust Co acquired a new position in shares of EOG Resources in the second quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the 2nd quarter worth about $28,000. Gladius Capital Management LP purchased a new stake in shares of EOG Resources during the second quarter worth about $30,000. Sachetta LLC acquired a new position in shares of EOG Resources in the fourth quarter valued at approximately $33,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of EOG Resources during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 1.0 %

EOG opened at $119.37 on Monday. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The stock has a market capitalization of $67.87 billion, a PE ratio of 9.43, a P/E/G ratio of 2.95 and a beta of 1.28. The firm’s fifty day moving average price is $125.93 and its 200 day moving average price is $126.34.

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

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio is presently 28.75%.

Insider Transactions at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction 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 directly owns 35,058 shares in the company, valued at $4,434,135.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday. Citigroup raised their target price on shares of EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 24th. Susquehanna dropped their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. UBS Group lifted their price target on shares of EOG Resources from $166.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus price target of $143.63.

EOG Resources Profile

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.