Cadence Bank Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Cadence Bank reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,471 shares of the energy exploration company's stock after selling 34,971 shares during the period. Cadence Bank's holdings in EOG Resources were worth $6,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EOG. Financial Life Planners bought a new position in EOG Resources in the 4th quarter valued at $25,000. Y.D. More Investments Ltd lifted its holdings in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company's stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in EOG Resources in the 4th quarter valued at approximately $25,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources during the 4th quarter worth approximately $27,000. Finally, Keystone Financial Group Inc. acquired a new position in EOG Resources during the fourth quarter worth $27,000. Institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG traded up $0.01 during mid-day trading on Wednesday, hitting $111.33. The stock had a trading volume of 1,340,913 shares, compared to its average volume of 3,226,703. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business has a fifty day moving average price of $121.55 and a 200-day moving average price of $126.14. The firm has a market cap of $61.40 billion, a P/E ratio of 8.96, a PEG ratio of 3.58 and a beta of 0.93.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a yield of 3.50%. EOG Resources's dividend payout ratio (DPR) is 34.73%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price objective on EOG Resources from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley dropped their price target on EOG Resources from $142.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Citigroup cut their price objective on shares of EOG Resources from $134.00 to $125.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Barclays decreased their target price on EOG Resources from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 18th. Finally, Piper Sandler dropped their price target on EOG Resources from $135.00 to $133.00 and set a "neutral" rating for the company in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.52.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares in the company, valued at approximately $6,098,240.32. This trade represents a 7.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

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.