Varma Mutual Pension Insurance Co Has $27.17 Million Position in EOG Resources, Inc. (NYSE:EOG)

Varma Mutual Pension Insurance Co grew its holdings in EOG Resources, Inc. (NYSE:EOG) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,892 shares of the energy exploration company’s stock after purchasing an additional 22,592 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in EOG Resources were worth $27,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

EOG Resources Stock Performance

Shares of EOG Resources stock traded down $1.20 during mid-day trading on Friday, hitting $120.35. 3,144,135 shares of the stock were exchanged, compared to its average volume of 3,138,585. The company has a market capitalization of $69.17 billion, a P/E ratio of 9.51, a P/E/G ratio of 3.22 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The company has a 50-day simple moving average of $126.66 and a 200 day simple moving average of $126.08. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

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

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is currently 28.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EOG shares. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Sanford C. Bernstein dropped their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Scotiabank reduced their price objective on 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. KeyCorp assumed coverage on EOG Resources in a research report on Thursday, June 27th. They set an “overweight” rating and a $157.00 target price on the stock. Finally, 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 research report on Tuesday, August 20th. Thirteen equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.95.

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated 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 sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s 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 transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is owned by company insiders.

About EOG Resources

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.