Conning Inc. Sells 30,165 Shares of EOG Resources, Inc. $EOG

Key Points

• Conning Inc. reduced its stake in EOG Resources by 10.0% in the first quarter, selling 30,165 shares and leaving it with 271,863 shares valued at about $39.3 million.
• EOG Resources reported strong quarterly results, with EPS of $3.41 topping estimates and revenue of $6.92 billion, up 22.1% from a year earlier.
• The company announced a quarterly dividend of $1.02 per share, implying an annualized payout of $4.08 and a 3.0% yield; analysts currently rate the stock a Moderate Buy with an average price target of $155.04.

Conning Inc. lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,863 shares of the energy exploration company's stock after selling 30,165 shares during the period. EOG Resources accounts for approximately 1.3% of Conning Inc.'s investment portfolio, making the stock its 10th biggest position. Conning Inc. owned about 0.05% of EOG Resources worth $39,303,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Acumen Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. boosted its stake in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after buying an additional 124 shares during the last quarter. Prosperity Bancshares Inc acquired a new position in EOG Resources during the fourth quarter worth $26,000. Nemes Rush Group LLC purchased a new stake in EOG Resources in the 4th quarter valued at $30,000. Finally, Financial Life Planners acquired a new stake in shares of EOG Resources in the 1st quarter worth $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.4%

Shares of NYSE:EOG opened at $134.03 on Friday. The firm has a market capitalization of $71.39 billion, a PE ratio of 13.19 and a beta of 0.25. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The firm's 50-day moving average is $135.59 and its two-hundred day moving average is $127.33.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $2.87 earnings per share. Analysts predict that EOG Resources, Inc. will post 16.19 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Stephens decreased their target price on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. UBS Group reduced their price target on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 2nd. Barclays upped their price objective on EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Finally, Scotiabank increased their price objective on EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $155.04.

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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