Arax Advisory Partners Lowers Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Arax Advisory Partners cut its EOG Resources stake by 39% in the fourth quarter, selling 10,196 shares and ending with 15,925 shares worth about $1.67 million.
• Wall Street remains broadly positive on EOG, with a consensus rating of “Moderate Buy” and a median price target of $156.32, even though some analysts recently trimmed targets or downgraded the stock.
• EOG reported strong quarterly results, beating earnings and revenue estimates, and it also declared a quarterly dividend of $1.02 per share, implying a 3.1% yield.

Arax Advisory Partners lowered its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 39.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,925 shares of the energy exploration company's stock after selling 10,196 shares during the period. Arax Advisory Partners' holdings in EOG Resources were worth $1,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bollard Group LLC lifted its stake in shares of EOG Resources by 0.8% during the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock worth $1,317,000 after purchasing an additional 93 shares in the last quarter. Hardy Reed LLC lifted its stake in shares of EOG Resources by 4.5% during the third quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company's stock worth $254,000 after purchasing an additional 97 shares in the last quarter. RKL Wealth Management LLC lifted its stake in shares of EOG Resources by 0.5% during the third quarter. RKL Wealth Management LLC now owns 21,235 shares of the energy exploration company's stock worth $2,381,000 after purchasing an additional 98 shares in the last quarter. CoreFirst Bank & Trust lifted its stake in shares of EOG Resources by 18.5% during the third quarter. CoreFirst Bank & Trust now owns 640 shares of the energy exploration company's stock worth $72,000 after purchasing an additional 100 shares in the last quarter. Finally, Ethos Financial Group LLC lifted its stake in shares of EOG Resources by 2.5% during the fourth quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock worth $439,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of recent research reports. Zacks Research cut EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Stephens dropped their target price on EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. DA Davidson lifted their target price on EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. The Goldman Sachs Group lifted their target price on EOG Resources from $135.00 to $139.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. Finally, Roth Mkm reaffirmed a "neutral" rating and set a $136.00 target price on shares of EOG Resources in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.32.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares of the company's stock, valued at $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.14% of the stock is owned by insiders.

EOG Resources Stock Down 3.4%

Shares of EOG Resources stock opened at $132.07 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a market cap of $70.34 billion, a P/E ratio of 13.00 and a beta of 0.25. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The business has a 50-day moving average price of $136.82 and a 200 day moving average price of $124.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.EOG Resources's quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.87 earnings per share. On average, sell-side analysts forecast that EOG Resources, Inc. will post 16.63 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's payout ratio is currently 40.16%.

EOG Resources 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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