California Public Employees Retirement System Sells 87,087 Shares of EOG Resources, Inc. $EOG

Key Points

• CalPERS trimmed its EOG Resources stake by 6.6% in the first quarter, selling 87,087 shares and ending with 1.24 million shares valued at about $179.5 million.
• EOG reported solid quarterly results, with earnings of $3.41 per share beating expectations and revenue of $6.92 billion topping estimates; revenue also rose 22.1% year over year.
• The company remains shareholder-friendly, announcing a quarterly dividend of $1.02 per share, or $4.08 annualized, for a yield of 2.9%.

California Public Employees Retirement System reduced its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,241,475 shares of the energy exploration company's stock after selling 87,087 shares during the period. California Public Employees Retirement System owned 0.23% of EOG Resources worth $179,480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sivia Capital Partners LLC bought a new stake in EOG Resources during the 2nd quarter worth about $258,000. Quantbot Technologies LP acquired a new stake in shares of EOG Resources during the 2nd quarter worth approximately $349,000. Gamco Investors INC. ET AL raised its stake in shares of EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock worth $785,000 after buying an additional 4,485 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of EOG Resources by 2.0% during the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock worth $2,725,000 after buying an additional 444 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in EOG Resources by 4.4% in the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after buying an additional 15,250 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of recent research reports. Wolfe Research raised their price objective on shares of EOG Resources from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Scotiabank upped their target price on shares of EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein cut their price target on EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 20th. Truist Financial reduced their price target on EOG Resources from $149.00 to $134.00 and set a "hold" rating on the stock in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada lifted their price objective on EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th. One 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. According to MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and a consensus target price of $155.04.

EOG Resources Trading Up 1.0%

EOG opened at $139.80 on Friday. The stock has a market capitalization of $74.46 billion, a P/E ratio of 13.76 and a beta of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The firm's fifty day simple moving average is $135.91 and its 200 day simple moving average is $128.55. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 23.01% and a return on equity of 19.25%. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.87 EPS. As a group, research analysts anticipate that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's dividend payout ratio is currently 40.16%.

EOG Resources Company 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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