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

DAVENPORT & Co LLC decreased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1ST Source Bank boosted its position in shares of EOG Resources by 1.5% in the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company's stock worth $656,000 after buying an additional 80 shares during the period. Penobscot Investment Management Company Inc. lifted its stake in EOG Resources by 2.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock worth $498,000 after acquiring an additional 80 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in EOG Resources by 1.4% in the 4th quarter. TD Private Client Wealth LLC now owns 5,786 shares of the energy exploration company's stock worth $709,000 after acquiring an additional 81 shares in the last quarter. NBT Bank N A NY boosted its position in EOG Resources by 3.9% during the 4th quarter. NBT Bank N A NY now owns 2,411 shares of the energy exploration company's stock worth $296,000 after acquiring an additional 90 shares during the period. Finally, Hancock Whitney Corp grew its stake in EOG Resources by 5.7% during the 4th quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after acquiring an additional 92 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In related 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 sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $1.63 during trading on Thursday, reaching $124.51. The stock had a trading volume of 1,435,330 shares, compared to its average volume of 3,398,117. The stock has a fifty day simple moving average of $115.33 and a two-hundred day simple moving average of $121.24. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market capitalization of $67.95 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 9.74 and a beta of 0.76.

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 business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. EOG Resources's revenue was down 7.4% compared to the same quarter last year. During the same period last year, the business posted $2.82 EPS. As a group, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.28%. EOG Resources's payout ratio is presently 36.18%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EOG. Stephens started coverage on shares of EOG Resources in a research report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target for the company. Piper Sandler dropped 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 note on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and set a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Susquehanna lowered their price target on shares of EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Scotiabank raised shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and dropped their price target for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $139.48.

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.