Edgestream Partners L.P. Sells 29,768 Shares of EOG Resources, Inc. $EOG

Key Points

• Edgestream Partners reduced its EOG Resources stake by 33.2%, selling 29,768 shares and retaining 59,906 shares valued at approximately $8.66 million. Institutional investors collectively own 89.91% of EOG stock.
• EOG reported strong quarterly results, with earnings of $3.41 per share and revenue of $6.92 billion, exceeding analyst estimates; revenue increased 22.1% year over year.
• The company declared a quarterly dividend of $1.02 per share, or $4.08 annually, representing a 2.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $155.32.

Edgestream Partners L.P. trimmed its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 33.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,906 shares of the energy exploration company's stock after selling 29,768 shares during the period. Edgestream Partners L.P.'s holdings in EOG Resources were worth $8,661,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources in the fourth quarter worth about $25,000. SJS Investment Consulting Inc. raised its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after buying an additional 124 shares during the period. Prosperity Bancshares Inc purchased a new position in shares of EOG Resources during the 4th quarter valued at about $26,000. Nemes Rush Group LLC purchased a new position in shares of EOG Resources during the 4th quarter valued at about $30,000. Finally, Financial Life Planners bought a new position in shares of EOG Resources during the 1st quarter valued at approximately $30,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 4.5%

Shares of EOG stock opened at $145.89 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $77.70 billion, a price-to-earnings ratio of 14.36 and a beta of 0.25. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The stock's 50-day moving average price is $136.69 and its 200-day moving average price is $130.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the company earned $2.87 earnings per share. The firm's revenue was up 22.1% on a year-over-year basis. Equities research analysts predict that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. EOG Resources's dividend payout ratio (DPR) is 40.16%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EOG shares. Royal Bank Of Canada increased their target price on shares of EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. UBS Group lowered their price target on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 2nd. Capital One Financial dropped their price target on shares of EOG Resources from $161.00 to $159.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. Sanford C. Bernstein reduced their price objective on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group decreased their price objective on shares of EOG Resources from $139.00 to $129.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.32.

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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