Ancora Advisors LLC Trims Stake in EOG Resources, Inc. $EOG

Key Points

• Ancora Advisors reduced its EOG Resources stake by 7.6% in the second quarter, selling 27,932 shares and retaining 340,102 shares valued at approximately $44.1 million. Institutional investors collectively own 89.91% of EOG.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Analysts maintain a consensus “Hold” rating with an average price target of $156.22.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 2.8% yield; CEO Ezra Yacob separately sold 35,942 shares worth about $5.47 million.

Ancora Advisors LLC reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 340,102 shares of the energy exploration company's stock after selling 27,932 shares during the quarter. EOG Resources makes up approximately 0.9% of Ancora Advisors LLC's investment portfolio, making the stock its 21st biggest position. Ancora Advisors LLC owned approximately 0.06% of EOG Resources worth $44,122,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Acumen Wealth Advisors LLC bought a new stake in EOG Resources during the 4th quarter worth approximately $25,000. SJS Investment Consulting Inc. increased its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Prosperity Bancshares Inc bought a new stake in shares of EOG Resources during the 4th quarter valued at $26,000. Nemes Rush Group LLC bought a new stake in shares of EOG Resources during the 4th quarter valued at $30,000. Finally, Financial Life Planners bought a new stake in shares of EOG Resources during the 1st quarter valued at $30,000. Institutional investors own 89.91% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of EOG Resources in a report on Friday, August 7th. Mizuho set a $157.00 price objective on EOG Resources and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. UBS Group cut their target price on EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 2nd. Morgan Stanley set a $157.00 target price on EOG Resources and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Finally, Barclays set a $147.00 price target on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $156.22.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is owned by insiders.

EOG Resources Price Performance

NYSE:EOG opened at $146.90 on Wednesday. The company has a market capitalization of $77.05 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.25. The business's 50-day moving average is $139.41 and its 200 day moving average is $135.70. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. During the same period in the prior year, the firm earned $2.32 EPS. The company's revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities research analysts forecast that EOG Resources, Inc. will post 16.87 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources's dividend payout ratio (DPR) is 31.75%.

EOG Resources Company Profile

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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