Candriam S.C.A. Lowers Holdings in EOG Resources, Inc. $EOG

Key Points

• Candriam S.C.A. has decreased its holdings in EOG Resources, Inc. by 7.9%, selling 3,001 shares and now owning a total of 35,030 shares worth approximately $4.49 million.
• The company recently announced a quarterly dividend increase to $1.02 per share, up from $0.98, representing an annualized yield of 3.4%.
• EOG Resources reported better-than-expected earnings of $2.32 per share for the latest quarter, exceeding the consensus estimate of $2.14, despite a 9.1% revenue decline compared to the previous year.

Candriam S.C.A. cut its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,030 shares of the energy exploration company's stock after selling 3,001 shares during the period. Candriam S.C.A.'s holdings in EOG Resources were worth $4,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of EOG Resources in the first quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new position in shares of EOG Resources in the first quarter valued at about $34,000. Ameriflex Group Inc. purchased a new position in shares of EOG Resources in the fourth quarter valued at about $36,000. 10Elms LLP purchased a new position in shares of EOG Resources in the fourth quarter valued at about $44,000. Finally, Stone House Investment Management LLC purchased a new position in shares of EOG Resources in the first quarter valued at about $48,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Down 0.1%

Shares of EOG traded down $0.08 during mid-day trading on Tuesday, reaching $121.35. 3,191,276 shares of the company's stock traded hands, compared to its average volume of 3,587,622. The stock has a market cap of $66.26 billion, a P/E ratio of 11.79, a P/E/G ratio of 9.25 and a beta of 0.80. The stock's 50-day moving average is $120.14 and its two-hundred day moving average is $119.00. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month 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 earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.16 earnings per share. Research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.4%. EOG Resources's dividend payout ratio (DPR) is presently 37.90%.

Wall Street Analysts Forecast Growth

EOG has been the topic of several research reports. Raymond James Financial lifted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Melius initiated coverage on EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.61.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

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.