Dupree Financial Group LLC Reduces Stock Position in EOG Resources, Inc. $EOG

Key Points

• Dupree Financial Group cut its EOG Resources stake by 46.5% in the first quarter, selling 27,427 shares and leaving it with 31,619 shares valued at about $4.57 million.
• Despite that sale, institutional ownership remains heavy: hedge funds and other investors own 89.91% of EOG, and several firms increased their positions during the quarter.
• EOG Resources beat earnings and revenue estimates in its latest quarter, and the company also announced a $1.02 quarterly dividend payable July 31, implying a 3.1% yield.

Dupree Financial Group LLC lessened its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 46.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,619 shares of the energy exploration company's stock after selling 27,427 shares during the quarter. EOG Resources makes up 1.8% of Dupree Financial Group LLC's holdings, making the stock its 22nd largest holding. Dupree Financial Group LLC's holdings in EOG Resources were worth $4,571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EOG. 3Chopt Investment Partners LLC increased its stake in EOG Resources by 5.4% in the first quarter. 3Chopt Investment Partners LLC now owns 8,154 shares of the energy exploration company's stock worth $1,179,000 after purchasing an additional 415 shares during the period. Continuum Advisory LLC boosted its stake in shares of EOG Resources by 22.1% during the first quarter. Continuum Advisory LLC now owns 9,303 shares of the energy exploration company's stock valued at $1,345,000 after purchasing an additional 1,681 shares during the period. Pinnacle Bancorp Inc. grew its holdings in shares of EOG Resources by 13.0% in the first quarter. Pinnacle Bancorp Inc. now owns 3,125 shares of the energy exploration company's stock worth $452,000 after purchasing an additional 360 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in shares of EOG Resources by 5.6% in the first quarter. Apollon Wealth Management LLC now owns 19,157 shares of the energy exploration company's stock worth $2,770,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in EOG Resources by 4.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 26,667 shares of the energy exploration company's stock worth $3,855,000 after buying an additional 1,164 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EOG. Truist Financial lifted their price objective on shares of EOG Resources from $146.00 to $149.00 and gave the company a "hold" rating in a report on Friday, May 8th. Sanford C. Bernstein dropped their target price on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 20th. BMO Capital Markets raised their target price on shares of EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Barclays lifted their price target on shares of EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Finally, Susquehanna boosted their price target on EOG Resources from $144.00 to $162.00 and gave the company a "positive" rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $155.86.

EOG Resources Stock Up 0.0%

EOG Resources stock opened at $132.64 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a market cap of $70.65 billion, a P/E ratio of 13.06 and a beta of 0.25. The business has a fifty day moving average of $135.81 and a two-hundred day moving average of $125.65. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business's revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $2.87 EPS. On average, analysts forecast that EOG Resources, Inc. will post 16.64 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, July 17th. EOG Resources's payout ratio is 40.16%.

About EOG Resources

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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