Trade Report: Today: EOG Resources Inc. (EOG) Stake Boosted by M&T Bank Corp

Today: EOG Resources Inc. (EOG) Stake Boosted by M&T Bank Corp

M&T Bank Corp raised its stake in EOG Resources Inc. (NYSE:EOG) by 42.0% during the third quarter, Holdings Channel reports. The fund owned 286,182 shares of the energy exploration company’s stock after buying an additional 84,623 shares during the period. M&T Bank Corp owned approximately 0.05% of EOG Resources worth $27,677,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co increased its position in EOG Resources by 14.9% in the first quarter. Trust Co now owns 3,699 shares of the energy exploration company’s stock valued at $268,000 after buying an additional 481 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in EOG Resources by 11.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 770,919 shares of the energy exploration company’s stock worth $64,310,000 after buying an additional 81,356 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in EOG Resources by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 142,439 shares of the energy exploration company’s stock worth $11,882,000 after buying an additional 8,556 shares in the last quarter. DNB Asset Management AS increased its position in EOG Resources by 1.1% in the second quarter. DNB Asset Management AS now owns 97,448 shares of the energy exploration company’s stock worth $8,129,000 after buying an additional 1,100 shares in the last quarter. Finally, British Columbia Investment Management Corp increased its position in EOG Resources by 3.2% in the second quarter. British Columbia Investment Management Corp now owns 356,145 shares of the energy exploration company’s stock worth $29,710,000 after buying an additional 10,995 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Shares of EOG Resources Inc. (NYSE:EOG) traded down 1.10% on Monday, reaching $94.92. The company had a trading volume of 1,366,575 shares. The firm’s market capitalization is $54.72 billion. EOG Resources Inc. has a 52 week low of $57.15 and a 52 week high of $98.32. The company’s 50-day moving average price is $93.72 and its 200 day moving average price is $87.94.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 3rd. The energy exploration company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.09. EOG Resources had a negative net margin of 17.58% and a negative return on equity of 8.42%. The business earned $2.12 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company posted $0.02 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, analysts expect that EOG Resources Inc. will post ($1.76) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Monday, October 17th were issued a $0.1675 dividend. The ex-dividend date was Thursday, October 13th. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.70%. EOG Resources’s payout ratio is currently -29.65%.

EOG has been the subject of a number of research reports. Citigroup Inc. lowered their target price on EOG Resources from $104.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, September 22nd. Jefferies Group reiterated a “hold” rating and set a $88.00 target price on shares of EOG Resources in a research report on Wednesday, October 19th. reiterated a “sell” rating on shares of EOG Resources in a research report on Tuesday, August 16th. Deutsche Bank AG upgraded EOG Resources from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $96.00 in a research report on Friday, August 5th. Finally, Guggenheim upgraded EOG Resources from a “neutral” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Friday, November 11th. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.98.

In other news, VP Ann D. Janssen sold 1,310 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $94.13, for a total value of $123,310.30. Following the transaction, the vice president now owns 54,073 shares in the company, valued at approximately $5,089,891.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles R. Crisp sold 14,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $92.69, for a total value of $1,297,660.00. Following the completion of the transaction, the director now owns 57,586 shares in the company, valued at approximately $5,337,646.34. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

About EOG Resources

EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.

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