National Asset Management Inc. reduced its stake in EOG Resources, Inc. (NYSE: EOG – Get Rating) by 69.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund held 3,769 shares of the energy exploration company after selling 8,703 shares during the quarter. National Asset Management Inc.’s holdings in EOG Resources were worth $450,000 at the end of the most recent period.
Several other hedge funds have also recently increased or reduced their stakes in EOG. National Bank of Canada FI acquired a new stake in EOG Resources in the fourth quarter valued at $1,444,000. Janney Montgomery Scott LLC increased its stake in EOG Resources shares by 30.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 121,965 shares of the energy exploration company worth $10,834,000 after acquiring 28,294 additional shares last quarter. Cedar Brook Financial Partners LLC purchased a new stake in shares of EOG Resources during Q4 for a value of approximately $223,000. Bessemer Group Inc. increased its stake in the shares of EOG Resources by 80.6% during the 4th quarter. Bessemer Group Inc. now owns 13,637 shares of the energy exploration company worth $1,211,000 after acquiring 6,085 additional shares last quarter. Finally, PGGM Investments purchased a new stake in shares of EOG Resources during Q4 for a value of approximately $18,363,000. 85.87% of the shares are held by hedge funds and other institutional investors.
Stock of EOG resources down 0.7%
EOG stock opened at $107.39 on Friday. The company has a market capitalization of $62.90 billion, a price-earnings ratio of 14.34, a PEG ratio of 0.22 and a beta of 1.69. The company has a current ratio of 1.35, a quick ratio of 1.26 and a debt ratio of 0.18. EOG Resources, Inc. has a 12-month low of $62.81 and a 12-month high of $147.99. The company has a 50-day moving average of $118.14 and a two-hundred-day moving average of $116.73.
EOG Resources (NYSE:EOG – Get Rating) last released quarterly earnings data on Thursday, May 5. The energy exploration company reported EPS of $4.00 for the quarter, beating consensus analyst estimates of $3.69 by $0.31. The company posted revenue of $3.98 billion in the quarter, versus a consensus estimate of $5.62 billion. EOG Resources posted a net margin of 23.12% and a return on equity of 29.77%. EOG Resources quarterly revenue increased 7.8% year over year. In the same quarter of the previous year, the company achieved EPS of $1.62. As a group, analysts expect EOG Resources, Inc. to post earnings per share of 15.76 for the current fiscal year.
EOG Resources Announces Dividend
The company also recently declared a nil dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 15 received a dividend of $1.80 per share. The ex-dividend date was Tuesday, June 14. EOG Resources’ dividend payout ratio is currently 40.05%.
Analysts set new price targets
Several research companies have recently published reports on EOG. Royal Bank of Canada downgraded shares of EOG Resources from an “outperform” rating to an “sector performer” rating and set a target price of $150.00 for the stock. in a Wednesday July 6 research note. Johnson Rice moved shares of EOG Resources from a “hold” rating to a “buy” rating and raised its target price for the stock from $155.00 to $165.00 in a research note from the Tuesday, May 24. Susquehanna Bancshares raised its price target on EOG Resources shares from $135.00 to $147.00 in a Monday, April 25 research note. Susquehanna raised its target price on EOG Resources shares from $135.00 to $147.00 in a Monday, April 25 research note. Finally, Bank of America downgraded EOG Resources shares from a “neutral” to a “buy” rating and lowered its price target for the company from $146.00 to $119.00 in a note. research on Tuesday, July 19. Five equity research analysts gave the stock a hold rating and fourteen gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.32.
Insider Trading at EOG Resources
In other news, CAO Ann D. Janssen sold 1,905 shares of the company in a trade that took place on Thursday, June 2. The shares were sold at an average price of $140.60, for a total transaction of $267,843.00. Following the completion of the sale, the chief accounting officer now owns 66,980 shares of the company, valued at approximately $9,417,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Separately, CFO Timothy K. Driggers sold 3,484 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $135.51, for a total transaction of $472,116.84. Following the completion of the transaction, the CFO now owns 214,691 shares of the company, valued at approximately $29,092,777.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CAO Ann D. Janssen sold 1,905 shares in a trade that took place on Thursday, June 2. The stock was sold at an average price of $140.60, for a total transaction of $267,843.00. As a result of the transaction, the chief accounting officer now directly owns 66,980 shares of the company, valued at approximately $9,417,388. The disclosure of this sale can be found here. Insiders sold 6,395 shares of the company worth $883,134 in the past 90 days. Insiders own 0.40% of the shares of the company.
EOG Resources Company Profile
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EOG Resources, Inc, together with its subsidiaries, explores, develops, produces and markets crude oil, natural gas and natural gas liquids. Its main production areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total net proven reserves estimated at 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of liquid natural gas reserves; and 8.222 billion cubic feet of natural gas reserves.
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