Chevy Chase Trust Holdings LLC Sells 12,919 Shares of EOG Resources, Inc. (NYSE:EOG)

Chevy Chase Trust Holdings LLC lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,104,846 shares of the energy exploration company's stock after selling 12,919 shares during the period. Chevy Chase Trust Holdings LLC owned 0.20% of EOG Resources worth $141,685,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EOG. Wealthfront Advisers LLC raised its holdings in EOG Resources by 4,642.2% in the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company's stock worth $349,627,000 after acquiring an additional 2,792,092 shares during the period. Capital World Investors grew its position in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of EOG Resources in the fourth quarter worth about $171,193,000. GAMMA Investing LLC lifted its position in shares of EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after purchasing an additional 1,272,765 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company's stock valued at $2,230,014,000 after purchasing an additional 781,282 shares during the period. Institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

Shares of EOG Resources stock traded down $0.79 during midday trading on Wednesday, hitting $119.89. 2,798,991 shares of the company were exchanged, compared to its average volume of 3,381,498. The firm has a 50 day simple moving average of $114.05 and a 200-day simple moving average of $121.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The firm has a market cap of $65.43 billion, a P/E ratio of 11.12, a PEG ratio of 9.97 and a beta of 0.74. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

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

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. 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. This represents a $4.08 dividend on an annualized basis and a yield of 3.40%. EOG Resources's payout ratio is 36.18%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on EOG Resources from $149.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Piper Sandler dropped their target price on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank upgraded shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their target price for the company from $150.00 to $130.00 in a research note on Friday, April 11th. Barclays raised their price target on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Finally, Stephens began coverage on shares of EOG Resources in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.48.

About EOG Resources

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.