EOG Resources, Inc. $EOG Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring trimmed its EOG Resources stake by 1.1% in the third quarter, selling 28,087 shares; it still held about 2.6 million shares valued at $367 million.
• EOG beat quarterly estimates, reporting $4.87 per share in earnings and $8.55 billion in revenue; revenue rose 46.2% year over year.
• The company raised its quarterly dividend from $1.02 to $1.10 per share, or $4.40 annualized, for a yield of roughly 3%.

Allspring Global Investments Holdings LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,598,852 shares of the energy exploration company's stock after selling 28,087 shares during the period. Allspring Global Investments Holdings LLC owned about 0.50% of EOG Resources worth $367,244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. StoneRidge PMG Advisors LLC purchased a new stake in EOG Resources during the 3rd quarter valued at approximately $432,000. Bryn Mawr Trust Advisors LLC grew its stake in shares of EOG Resources by 8.4% in the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 8,878 shares of the energy exploration company's stock valued at $1,223,000 after purchasing an additional 688 shares during the last quarter. Avantax Planning Partners Inc. grew its stake in shares of EOG Resources by 0.5% in the 3rd quarter. Avantax Planning Partners Inc. now owns 39,886 shares of the energy exploration company's stock valued at $5,495,000 after purchasing an additional 195 shares during the last quarter. Uhlmann Price Securities LLC grew its stake in shares of EOG Resources by 23.6% in the 3rd quarter. Uhlmann Price Securities LLC now owns 6,006 shares of the energy exploration company's stock valued at $827,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Ethic Inc. increased its holdings in shares of EOG Resources by 40.1% in the third quarter. Ethic Inc. now owns 9,466 shares of the energy exploration company's stock valued at $1,304,000 after purchasing an additional 2,711 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG stock opened at $147.79 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $149.32 and a 200-day simple moving average of $137.83. The company has a market cap of $77.52 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.52 and a beta of 0.27. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $165.93.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, beating analysts' consensus estimates of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the previous year, the business earned $2.71 earnings per share. The company's revenue for the quarter was up 46.2% compared to the same quarter last year. On average, equities analysts forecast that EOG Resources, Inc. will post 17.72 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 15th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.0%. This is an increase from EOG Resources's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Friday, January 15th. EOG Resources's dividend payout ratio is 26.36%.

EOG Resources News Summary

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Q3 results beat expectations: EOG reported earnings of $4.87 per share, versus the $4.45 consensus, and revenue of $8.55 billion, above estimates of $7.26 billion and up 46.2% year over year. Earnings per share rose from $2.71 a year earlier. Reuters article
• Positive Sentiment: Production and pricing supported performance: The company’s record production and stronger commodity prices helped drive profit growth and robust cash flow, reinforcing the quarter’s positive results. Zacks article
• Positive Sentiment: Dividend raised: EOG increased its quarterly dividend from $1.02 to $1.10 per share, about 7.8%, equivalent to $4.40 annually and a roughly 3% yield. The increase signals confidence in cash generation and adds to shareholder returns. EOG press release
• Neutral Sentiment: Barclays lifted its price target from $147 to $155, but maintained an “equal weight” rating, suggesting limited conviction that EOG will outperform despite the higher target. Barclays rating information

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey Leitzell sold 9,039 shares of the business's stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the sale, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. The trade was a 9.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Donaldson sold 7,336 shares of the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares in the company, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on EOG shares. Roth Capital restated a "neutral" rating and set a $138.00 price target on shares of EOG Resources in a research note on Wednesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and issued a $186.00 price objective (up from $183.00) on shares of EOG Resources in a research report on Thursday, September 17th. Zacks Research raised shares of EOG Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 16th. Wall Street Zen upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Finally, Freedom Capital downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $161.80.

EOG Resources Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations.

The company's activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.

Founded in 1985 as Enron Oil & Gas, the company became independent in 1999 and adopted the name EOG Resources.

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