Fifth Third Bancorp Sells 8,837 Shares of EOG Resources, Inc. (NYSE:EOG)

Fifth Third Bancorp decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 250,505 shares of the energy exploration company’s stock after selling 8,837 shares during the quarter. Fifth Third Bancorp’s holdings in EOG Resources were worth $30,707,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in EOG. Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after acquiring an additional 75,194 shares during the period. Geode Capital Management LLC grew its holdings in shares of EOG Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock worth $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Franklin Resources Inc. increased its position in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Legal & General Group Plc raised its stake in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in EOG Resources by 3.2% in the third quarter. Pacer Advisors Inc. now owns 4,254,645 shares of the energy exploration company’s stock worth $523,024,000 after purchasing an additional 130,822 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent research reports. Bank of America restated a “neutral” rating and issued a $144.00 price objective (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Citigroup raised their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a research note on Monday, January 13th. Evercore ISI cut their target price on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $143.86.

EOG Resources Stock Down 1.7 %

NYSE:EOG opened at $131.73 on Friday. The company has a market cap of $74.09 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s fifty day moving average price is $129.01 and its two-hundred day moving average price is $127.35. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same quarter last year, the business earned $3.44 earnings per share. On average, analysts anticipate that EOG Resources, Inc. will post 11.45 EPS for the current year.

EOG Resources announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is 31.40%.

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.