SVB Wealth LLC Reduces Holdings in EOG Resources, Inc. (NYSE:EOG)

SVB Wealth LLC decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,770 shares of the energy exploration company’s stock after selling 2,841 shares during the quarter. SVB Wealth LLC’s holdings in EOG Resources were worth $8,908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EOG. Aveo Capital Partners LLC boosted its holdings in shares of EOG Resources by 4.8% in the fourth quarter. Aveo Capital Partners LLC now owns 2,194 shares of the energy exploration company’s stock worth $265,000 after buying an additional 101 shares during the last quarter. Private Advisor Group LLC lifted its holdings in EOG Resources by 2.3% during the fourth quarter. Private Advisor Group LLC now owns 14,840 shares of the energy exploration company’s stock valued at $1,795,000 after purchasing an additional 336 shares in the last quarter. Lincoln National Corp lifted its holdings in EOG Resources by 15.3% during the fourth quarter. Lincoln National Corp now owns 7,073 shares of the energy exploration company’s stock valued at $855,000 after purchasing an additional 939 shares in the last quarter. Principal Securities Inc. purchased a new position in EOG Resources during the fourth quarter valued at approximately $1,291,000. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in EOG Resources by 88.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 4,334 shares of the energy exploration company’s stock valued at $524,000 after purchasing an additional 2,036 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock valued at $2,751,612 over the last three months. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Truist Financial lowered their price target on shares of EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Piper Sandler lowered their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Wolfe Research assumed coverage on shares of EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $147.00 price objective on shares of EOG Resources in a research report on Wednesday, July 10th. Finally, Scotiabank reduced their price objective on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $143.95.

EOG Resources Trading Down 1.0 %

EOG stock traded down $1.20 during mid-day trading on Friday, reaching $120.35. 3,144,135 shares of the stock traded hands, compared to its average volume of 3,138,585. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The stock has a market capitalization of $69.17 billion, a PE ratio of 9.51, a PEG ratio of 3.22 and a beta of 1.30. The business has a 50-day moving average price of $126.66 and a two-hundred day moving average price of $125.99.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 earnings per share. Equities research analysts expect that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Dividend Announcement

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

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.