Bank of New York Mellon Corp Sells 81,964 Shares of EOG Resources, Inc. (NYSE:EOG)

Bank of New York Mellon Corp lessened its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,044,437 shares of the energy exploration company's stock after selling 81,964 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of EOG Resources worth $518,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG lifted its holdings in EOG Resources by 56.3% during 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 buying an additional 89,521 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of EOG Resources by 31.6% in the 4th quarter. Jones Financial Companies Lllp now owns 9,529 shares of the energy exploration company's stock worth $1,168,000 after purchasing an additional 2,290 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $90,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of EOG Resources by 8.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 26,828 shares of the energy exploration company's stock worth $3,289,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $492,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EOG shares. Barclays lifted their price target on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Susquehanna lowered their price target on EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial lifted their price target on EOG Resources from $148.00 to $158.00 and gave the company a "strong-buy" rating in a research report on Monday, June 2nd. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and lowered their price target for the company from $140.00 to $134.00 in a research report on Wednesday. Finally, Scotiabank raised EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their target price for the stock from $150.00 to $130.00 in a research report on Friday, April 11th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $139.00.

EOG Resources Price Performance

EOG stock traded down $2.05 during midday trading on Wednesday, reaching $121.90. 1,460,962 shares of the company's stock traded hands, compared to its average volume of 3,405,649. The company has a 50-day simple moving average of $116.11 and a two-hundred day simple moving average of $121.31. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a market cap of $66.53 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 9.65 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

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

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a $1.02 dividend. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction 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 directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

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.