Adams Natural Resources Fund Inc. Reduces Holdings in EOG Resources, Inc. (NYSE:EOG)

Adams Natural Resources Fund Inc. decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,067 shares of the energy exploration company's stock after selling 15,600 shares during the period. EOG Resources comprises approximately 3.3% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 9th largest position. Adams Natural Resources Fund Inc.'s holdings in EOG Resources were worth $25,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank Pictet & Cie Europe AG increased its holdings in EOG Resources by 56.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after acquiring an additional 89,521 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of EOG Resources by 12.5% in the fourth quarter. MONECO Advisors LLC now owns 1,884 shares of the energy exploration company's stock worth $231,000 after purchasing an additional 209 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of EOG Resources in the fourth quarter worth $123,000. Y Intercept Hong Kong Ltd raised its position in shares of EOG Resources by 382.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 20,266 shares of the energy exploration company's stock valued at $2,484,000 after purchasing an additional 16,066 shares during the period. Finally, IFP Advisors Inc raised its position in shares of EOG Resources by 4.2% during the 4th quarter. IFP Advisors Inc now owns 13,121 shares of the energy exploration company's stock valued at $1,609,000 after purchasing an additional 528 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business's stock in a transaction on 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 transaction, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. The trade was a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler cut their price target on EOG Resources from $135.00 to $133.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Susquehanna cut their target price on EOG Resources from $161.00 to $156.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial lifted their target price on EOG Resources from $148.00 to $158.00 and gave the company a "strong-buy" rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. dropped their price target on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Scotiabank upgraded shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the company from $150.00 to $130.00 in a research report on Friday, April 11th. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and a consensus target price of $139.48.

EOG Resources Trading Up 1.0%

Shares of NYSE:EOG traded up $1.24 during trading on Thursday, hitting $121.06. The company had a trading volume of 2,703,905 shares, compared to its average volume of 3,388,794. The stock has a market cap of $66.07 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 9.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The company has a fifty day simple moving average of $114.28 and a two-hundred day simple moving average of $121.45. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. EOG Resources's revenue was down 7.4% on a year-over-year basis. During the same period last year, the company earned $2.82 earnings per share. As a group, equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.37%. EOG Resources's payout ratio is currently 36.18%.

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.