CSM Advisors LLC Cuts Holdings in EOG Resources, Inc. $EOG

Key Points

• CSM Advisors LLC reduced its stake in EOG Resources, selling 2,130 shares and holding 66,109 shares worth $8,480,000 by the end of the first quarter.
• Analysts have a consensus rating of Moderate Buy for EOG Resources, with price targets varying from $124.00 to $173.00, indicating confidence in the company's growth potential.
• EOG Resources will increase its quarterly dividend to $1.02 per share, effective October 31st, reflecting strong financial performance despite a year-over-year revenue decline.

CSM Advisors LLC lowered its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 66,109 shares of the energy exploration company's stock after selling 2,130 shares during the period. CSM Advisors LLC's holdings in EOG Resources were worth $8,480,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its holdings in EOG Resources by 14.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after purchasing an additional 106,677 shares during the period. ARGA Investment Management LP boosted its holdings in EOG Resources by 24.2% in the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after purchasing an additional 2,616 shares during the period. CWA Asset Management Group LLC boosted its holdings in EOG Resources by 15.3% in the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in EOG Resources by 37.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in EOG Resources by 4.7% in the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after purchasing an additional 8,127 shares during the period. Institutional investors own 89.91% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Raymond James Financial boosted their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada cut their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. UBS Group upped their price target on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, Melius started coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and an average target price of $143.61.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources 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 sale, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

EOG Resources Stock Up 0.4%

NYSE:EOG traded up $0.55 during trading hours on Friday, reaching $124.89. The company had a trading volume of 1,737,827 shares, compared to its average volume of 3,553,432. 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 firm has a market cap 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 business's 50-day simple moving average is $120.07 and its two-hundred day simple moving average is $119.00. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the firm earned $3.16 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

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.