Arnhold LLC Buys New Holdings in EOG Resources Inc (EOG)
Arnhold LLC bought a new position in shares of EOG Resources Inc (NYSE:EOG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 79,194 shares of the energy exploration company’s stock, valued at approximately $8,337,000. EOG Resources accounts for about 1.6% of Arnhold LLC’s holdings, making the stock its 13th largest holding.
Several other hedge funds also recently made changes to their positions in EOG. Fisher Asset Management LLC acquired a new stake in EOG Resources in the 4th quarter worth about $1,110,000. Robeco Institutional Asset Management B.V. raised its stake in EOG Resources by 21.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 42,353 shares of the energy exploration company’s stock worth $4,569,000 after purchasing an additional 7,352 shares in the last quarter. LMR Partners LLP raised its stake in EOG Resources by 96.8% in the 4th quarter. LMR Partners LLP now owns 12,382 shares of the energy exploration company’s stock worth $1,336,000 after purchasing an additional 6,090 shares in the last quarter. Bessemer Group Inc. raised its stake in EOG Resources by 9.5% in the 4th quarter. Bessemer Group Inc. now owns 218,520 shares of the energy exploration company’s stock worth $23,580,000 after purchasing an additional 18,950 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in EOG Resources by 3.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 72,512 shares of the energy exploration company’s stock worth $7,825,000 after purchasing an additional 2,284 shares in the last quarter. 85.28% of the stock is owned by institutional investors and hedge funds.
In related news, President Gary L. Thomas sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $125.36, for a total transaction of $6,268,000.00. Following the completion of the transaction, the president now directly owns 988,947 shares in the company, valued at approximately $123,974,395.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ann D. Janssen sold 4,816 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $117.97, for a total transaction of $568,143.52. Following the transaction, the senior vice president now owns 56,476 shares of the company’s stock, valued at $6,662,473.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,453 shares of company stock valued at $8,423,028. 0.51% of the stock is owned by corporate insiders.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 3rd. The energy exploration company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.39. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. EOG Resources had a net margin of 26.00% and a return on equity of 8.19%. The firm’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. research analysts expect that EOG Resources Inc will post 4.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Saturday, July 7th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Monday, July 16th. EOG Resources’s dividend payout ratio is 66.07%.
Several analysts have weighed in on EOG shares. Zacks Investment Research cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 9th. Royal Bank of Canada set a $120.00 price objective on shares of EOG Resources and gave the stock a “hold” rating in a research note on Friday, April 13th. ValuEngine upgraded shares of EOG Resources from a “sell” rating to a “hold” rating in a research note on Friday, March 23rd. UBS Group started coverage on shares of EOG Resources in a research note on Wednesday, March 7th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Credit Suisse Group dropped their price objective on shares of EOG Resources from $126.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $122.57.
EOG Resources Company Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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