Bessemer Group Inc. Sells 23,902 Shares of EOG Resources, Inc. (NYSE:EOG)

Bessemer Group Inc. trimmed its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 55.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,004 shares of the energy exploration company's stock after selling 23,902 shares during the period. Bessemer Group Inc.'s holdings in EOG Resources were worth $2,436,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. MOKAN Wealth Management Inc. raised its position in EOG Resources by 11.3% in the first quarter. MOKAN Wealth Management Inc. now owns 14,942 shares of the energy exploration company's stock valued at $1,917,000 after purchasing an additional 1,513 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in EOG Resources by 1.2% during the 1st quarter. Daymark Wealth Partners LLC now owns 13,995 shares of the energy exploration company's stock worth $1,795,000 after buying an additional 160 shares during the period. Steph & Co. grew its holdings in EOG Resources by 12.6% during the 1st quarter. Steph & Co. now owns 4,473 shares of the energy exploration company's stock worth $574,000 after acquiring an additional 500 shares during the last quarter. Field & Main Bank increased its position in EOG Resources by 2.3% in the 1st quarter. Field & Main Bank now owns 6,760 shares of the energy exploration company's stock valued at $867,000 after acquiring an additional 150 shares during the period. Finally, Retirement Guys Formula LLC increased its position in EOG Resources by 19.7% in the 1st quarter. Retirement Guys Formula LLC now owns 12,821 shares of the energy exploration company's stock valued at $1,644,000 after acquiring an additional 2,113 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EOG shares. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Barclays upped 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. Piper Sandler lowered their price objective on EOG Resources from $135.00 to $133.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Stephens started coverage on EOG Resources in a research note on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Twelve 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.48.

EOG Resources Stock Down 0.3%

Shares of EOG traded down $0.31 during trading hours on Friday, hitting $120.82. The stock had a trading volume of 4,187,331 shares, compared to its average volume of 3,396,106. The firm has a market capitalization of $65.94 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 9.71 and a beta of 0.74. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The firm has a 50 day simple moving average of $114.70 and a 200-day simple moving average of $121.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The firm's revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 EPS. Sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

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.