The Manufacturers Life Insurance Company Sells 14,103 Shares of EOG Resources, Inc. (NYSE:EOG)

The Manufacturers Life Insurance Company cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 503,336 shares of the energy exploration company’s stock after selling 14,103 shares during the period. The Manufacturers Life Insurance Company’s holdings in EOG Resources were worth $63,355,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in shares of EOG Resources during the second quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources in the 2nd quarter worth approximately $28,000. Gladius Capital Management LP bought a new position in shares of EOG Resources in the second quarter valued at approximately $30,000. Triad Wealth Partners LLC bought a new position in shares of EOG Resources in the second quarter valued at approximately $35,000. Finally, Norwood Financial Corp purchased a new stake in shares of EOG Resources during the first quarter valued at approximately $37,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on EOG Resources from $136.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. KeyCorp assumed coverage on shares of EOG Resources in a report on Thursday, June 27th. They set an “overweight” rating and a $157.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Scotiabank decreased their price target on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, UBS Group dropped their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Fourteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $142.89.

EOG Resources Trading Up 1.7 %

Shares of EOG Resources stock opened at $122.44 on Friday. The company’s 50-day moving average price is $124.94 and its 200-day moving average price is $126.76. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a market cap of $70.37 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 3.27 and a beta of 1.28.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $2.49 EPS. On average, equities analysts expect that EOG Resources, Inc. will post 11.91 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced 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 2.97%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The disclosure for this sale can be found here. Insiders have sold 21,537 shares of company stock worth $2,751,612 in the last ninety days. 0.30% of the stock is currently owned by insiders.

EOG Resources Company 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.