EOG Resources, Inc. $EOG Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA cut its EOG Resources stake by 94% in the first quarter, leaving it with 1,821 shares valued at about $263,000.
• EOG Resources reported strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion, up 22.1% year over year.
• The company announced a quarterly dividend of $1.02 per share, implying a 3.0% annual yield, while analysts currently rate the stock Moderate Buy with a consensus target price of $155.04.

ABC Arbitrage SA decreased its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 94.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,821 shares of the energy exploration company's stock after selling 28,424 shares during the quarter. ABC Arbitrage SA's holdings in EOG Resources were worth $263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Calamos Advisors LLC raised its position in EOG Resources by 4.1% during the first quarter. Calamos Advisors LLC now owns 73,880 shares of the energy exploration company's stock worth $10,681,000 after acquiring an additional 2,879 shares during the last quarter. AMG National Trust Bank lifted its stake in EOG Resources by 110.2% in the 1st quarter. AMG National Trust Bank now owns 6,211 shares of the energy exploration company's stock valued at $898,000 after buying an additional 3,256 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC acquired a new stake in EOG Resources during the 1st quarter valued at $205,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in EOG Resources by 8.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,851 shares of the energy exploration company's stock valued at $2,292,000 after purchasing an additional 1,183 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in EOG Resources in the 1st quarter valued at about $626,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Mizuho set a $157.00 price objective on shares of EOG Resources and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Truist Financial reduced their price objective on shares of EOG Resources from $149.00 to $134.00 and set a "hold" rating on the stock in a research note on Wednesday, July 1st. Williams Trading set a $177.00 price objective on EOG Resources in a research report on Monday, April 20th. Finally, Sanford C. Bernstein dropped their target price on 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. One 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 stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.04.

EOG Resources Trading Down 1.1%

Shares of EOG stock opened at $138.10 on Wednesday. The stock has a market cap of $73.56 billion, a price-to-earnings ratio of 13.59 and a beta of 0.25. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The firm's 50 day moving average price is $135.51 and its two-hundred day moving average price is $127.99.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the firm earned $2.87 earnings per share. EOG Resources's revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts anticipate that EOG Resources, Inc. will post 16.18 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 3.0%. EOG Resources's payout ratio is 40.16%.

EOG Resources Company Profile

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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