Bahl & Gaynor Inc. Trims Stake in EOG Resources, Inc. $EOG

Key Points

• Bahl & Gaynor Inc. reduced its holdings in EOG Resources by 21.6% during the first quarter, selling 2,500 shares and retaining 9,056 shares valued at approximately $1.16 million.
• The company recently announced a quarterly dividend increase from $0.98 to **$1.02** per share, with an ex-dividend date set for **October 17th**.
• EOG Resources CEO sold 3,951 shares at an average price of **$119.65**, resulting in a transaction worth nearly **$472,737**, which decreased their position by **7.95%**.

Bahl & Gaynor Inc. lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,056 shares of the energy exploration company's stock after selling 2,500 shares during the period. Bahl & Gaynor Inc.'s holdings in EOG Resources were worth $1,161,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Silvercrest Asset Management Group LLC increased its stake in shares of EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after purchasing an additional 106,677 shares during the last quarter. ARGA Investment Management LP boosted its holdings in EOG Resources by 24.2% in the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after buying an additional 2,616 shares during the period. CWA Asset Management Group LLC boosted its holdings in EOG Resources by 15.3% in the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after buying an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in EOG Resources by 37.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after buying an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in EOG Resources by 4.7% in the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after buying an additional 8,127 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

EOG Resources Trading Up 1.1%

NYSE:EOG traded up $1.41 during trading hours on Thursday, hitting $124.29. The company had a trading volume of 1,931,216 shares, compared to its average volume of 3,569,032. The company has a market capitalization of $67.86 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 9.26 and a beta of 0.80. The stock has a 50-day moving average price of $120.06 and a 200 day moving average price of $119.04. 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 0.12, a current ratio of 1.79 and a quick ratio of 1.61.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.16 earnings per share. On average, equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a dividend of $1.02 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio is presently 39.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on EOG. Susquehanna raised their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Raymond James Financial boosted their price target on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Bank of America reduced their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $143.61.

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.