DAVENPORT & Co LLC Sells 15,929 Shares of EOG Resources, Inc. (NYSE:EOG)

DAVENPORT & Co LLC lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 839,755 shares of the energy exploration company's stock after selling 15,929 shares during the period. DAVENPORT & Co LLC owned about 0.15% of EOG Resources worth $107,370,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wealthfront Advisers LLC raised its position in shares of EOG Resources by 4,642.2% during the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company's stock worth $349,627,000 after purchasing an additional 2,792,092 shares during the period. Capital World Investors increased its stake in EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after purchasing an additional 2,270,013 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in EOG Resources during the 4th quarter worth about $171,193,000. GAMMA Investing LLC raised its holdings in EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after buying an additional 1,272,765 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company's stock valued at $2,230,014,000 after buying an additional 781,282 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the 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 transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EOG. Mizuho dropped their target price on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler lowered their price objective on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Raymond James Financial raised their target price on EOG Resources from $148.00 to $158.00 and gave the stock a "strong-buy" rating in a research report on Monday, June 2nd. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $139.48.

EOG Resources Stock Up 1.3%

Shares of EOG Resources stock traded up $1.63 during trading on Friday, hitting $124.51. 1,437,151 shares of the stock traded hands, compared to its average volume of 3,404,460. The stock has a market cap of $67.95 billion, a P/E ratio of 11.55, a PEG ratio of 9.94 and a beta of 0.76. The company has a fifty day moving average price of $115.78 and a two-hundred day moving average price of $121.25. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. The firm had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The company's revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 earnings per share. Equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS 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. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. 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 3.28%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

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.