Annis Gardner Whiting Capital Advisors LLC Sells 6,235 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Annis Gardner Whiting Capital Advisors LLC reduced its stake in EOG Resources by 92.8%, selling 6,235 shares, and now holds only 486 shares valued at $62,000.
• EOG Resources recently announced an increase in its quarterly dividend from $0.98 to $1.02, resulting in an annualized dividend of $4.08 and a yield of 3.5%.
• Wall Street analysts have mixed ratings on EOG Resources, with a consensus rating of "Moderate Buy" and an average target price of $140.62.

Annis Gardner Whiting Capital Advisors LLC trimmed its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 92.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 486 shares of the energy exploration company's stock after selling 6,235 shares during the period. Annis Gardner Whiting Capital Advisors LLC's holdings in EOG Resources were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. 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 valued at $30,449,000 after purchasing an additional 89,521 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of EOG Resources in the 4th quarter worth approximately $236,000. Federated Hermes Inc. increased its stake in EOG Resources by 35.6% during the fourth quarter. Federated Hermes Inc. now owns 376,603 shares of the energy exploration company's stock valued at $46,164,000 after purchasing an additional 98,877 shares during the last quarter. Trek Financial LLC bought a new stake in shares of EOG Resources during the 4th quarter valued at about $211,000. Finally, Cerity Partners LLC raised its position in shares of EOG Resources by 6.4% during the 4th quarter. Cerity Partners LLC now owns 121,719 shares of the energy exploration company's stock worth $14,928,000 after purchasing an additional 7,288 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Down 0.6%

EOG stock traded down $0.64 during midday trading on Thursday, reaching $115.95. The company had a trading volume of 4,399,194 shares, compared to its average volume of 2,899,357. The company has a 50 day moving average of $119.48 and a two-hundred day moving average of $120.09. The company has a market capitalization of $63.28 billion, a P/E ratio of 10.76, a PEG ratio of 8.93 and a beta of 0.80. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. EOG Resources's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.16 EPS. On average, equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.5%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is presently 36.18%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EOG. Scotiabank upgraded shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their price objective for the company from $150.00 to $130.00 in a research report on Friday, April 11th. Bank of America lowered their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Stephens began coverage on EOG Resources in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 target price on the stock. Finally, Barclays upped their target price on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently 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.