Stonegate Investment Group LLC Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Stonegate Investment Group LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,610 shares of the energy exploration company’s stock after selling 806 shares during the period. Stonegate Investment Group LLC’s holdings in EOG Resources were worth $10,770,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of EOG Resources during the second quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the second quarter valued at $28,000. Gladius Capital Management LP purchased a new position in shares of EOG Resources during the second quarter valued at $30,000. Triad Wealth Partners LLC purchased a new position in shares of EOG Resources during the second quarter valued at $35,000. Finally, Norwood Financial Corp purchased a new position in shares of EOG Resources during the first quarter valued at $37,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on EOG shares. Truist Financial cut their target price on EOG Resources from $130.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Piper Sandler cut their target price on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. KeyCorp cut their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Sanford C. Bernstein cut their target price 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. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.20.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is owned by company insiders.

EOG Resources Stock Performance

Shares of EOG Resources stock traded down $1.16 on Friday, reaching $125.88. 424,054 shares of the stock were exchanged, compared to its average volume of 3,167,555. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The firm has a market capitalization of $72.34 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 3.38 and a beta of 1.28. The business has a 50 day moving average price of $126.24 and a two-hundred day moving average price of $127.17.

EOG Resources (NYSE:EOG) last released its 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. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter in the previous year, the company posted $2.49 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that EOG Resources, Inc. will post 11.83 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. Shareholders 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 yield of 2.89%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is presently 28.75%.

EOG Resources Company 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.