Credit Agricole S A Cuts Holdings in EOG Resources, Inc. $EOG

Key Points

• Credit Agricole S A has reduced its stake in EOG Resources, Inc. by 2.0%, holding 145,110 shares worth approximately $18.61 million at the end of the first quarter.
• EOG Resources recently declared a quarterly dividend of $1.02, increasing from the previous $0.98, with an annualized yield of 3.4%.
• Several research firms have issued ratings for EOG Resources, with a consensus rating of "Moderate Buy" and a price target of $143.61.

Credit Agricole S A trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,110 shares of the energy exploration company's stock after selling 2,897 shares during the period. Credit Agricole S A's holdings in EOG Resources were worth $18,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EOG. Banque Cantonale Vaudoise purchased a new stake in EOG Resources during the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the 1st quarter valued at about $34,000. Ameriflex Group Inc. acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $36,000. 10Elms LLP acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $44,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of EOG Resources in the 1st quarter valued at about $48,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EOG shares. UBS Group upped their target price on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler decreased their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Bank of America decreased their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Jefferies Financial Group reissued a "buy" rating and issued a $148.00 target price (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Finally, Susquehanna upped their target price on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and a consensus price target of $143.61.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was 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 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

EOG traded up $2.3950 on Friday, hitting $120.9050. 2,245,946 shares of the company traded hands, compared to its average volume of 2,796,382. The company has a 50 day moving average of $120.18 and a 200-day moving average of $119.09. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $66.01 billion, a PE ratio of 11.75, a PEG ratio of 9.25 and a beta of 0.80. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month 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 the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm's revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 EPS. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. 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 currently 37.90%.

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.