Commerce Bank Trims Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Commerce Bank has reduced its holdings in EOG Resources by 46.7% this quarter, now owning 48,425 shares valued at approximately $6.21 million.
• Insider COO Jeffrey R. Leitzell sold 3,951 shares at an average price of $119.65, reducing his position by 7.95%.
• EOG Resources has declared an increased quarterly dividend of $1.02 per share, yielding 3.5%, with the ex-dividend date set for October 17th.

Commerce Bank reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 46.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,425 shares of the energy exploration company's stock after selling 42,373 shares during the period. Commerce Bank's holdings in EOG Resources were worth $6,210,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Hancock Whitney Corp grew its stake in EOG Resources by 5.7% in the 4th quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after acquiring an additional 92 shares during the last quarter. FSM Wealth Advisors LLC boosted its stake in shares of EOG Resources by 6.2% during the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares during the last quarter. Sigma Planning Corp grew its holdings in EOG Resources by 1.6% in the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after purchasing an additional 97 shares during the period. Bank of Jackson Hole Trust grew its holdings in EOG Resources by 1.6% in the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after purchasing an additional 100 shares during the period. Finally, Advisor OS LLC grew its holdings in EOG Resources by 3.7% in the first quarter. Advisor OS LLC now owns 2,853 shares of the energy exploration company's stock valued at $366,000 after purchasing an additional 102 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction dated Monday, June 30th. The shares were 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 directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

EOG stock opened at $116.64 on Friday. The company has a market capitalization of $63.66 billion, a P/E ratio of 10.82, a PEG ratio of 8.96 and a beta of 0.80. The company has a 50-day simple moving average of $118.96 and a 200 day simple moving average of $120.54. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. 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 posted its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The company's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 earnings per share. Sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 3.5%. 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 is currently 36.18%.

Wall Street Analyst Weigh In

EOG has been the topic of a number of recent research reports. Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their price target for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Bank of America reduced their target price on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Piper Sandler dropped their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Royal Bank Of Canada dropped their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $140.62.

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.

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