Corebridge Financial Inc. Decreases Holdings in EOG Resources, Inc. $EOG

Key Points

• Corebridge Financial Inc. reduced its stake in EOG Resources, Inc. by 3.8%, holding 155,232 shares valued at approximately $19.9 million after selling 6,099 shares in the first quarter.
• Analysts have mixed ratings on EOG, with one rating it a Strong Buy, eleven a Buy, and twelve a Hold, setting an average price target of $143.61.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, with a yield of 3.4% and a payout ratio of 37.90%.

Corebridge Financial Inc. reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,232 shares of the energy exploration company's stock after selling 6,099 shares during the quarter. Corebridge Financial Inc.'s holdings in EOG Resources were worth $19,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after purchasing an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares during the last quarter. Northern Trust Corp raised its position in EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after buying an additional 358,916 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after buying an additional 60,454 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in EOG Resources by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,911,741 shares of the energy exploration company's stock worth $629,789,000 after buying an additional 36,777 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

NYSE EOG traded up $0.55 during trading hours on Friday, reaching $124.89. The company's stock had a trading volume of 1,737,955 shares, compared to its average volume of 3,557,974. The firm has a market capitalization of $68.19 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 9.39 and a beta of 0.80. The company's 50-day moving average is $120.07 and its two-hundred day moving average is $119.00. 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, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.48 billion during 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 business's revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.16 earnings per share. On average, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group raised their price target on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Susquehanna raised their price target on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group reissued a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Royal Bank Of Canada reduced 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 report on Tuesday, July 8th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.61.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.