EOG Resources, Inc. $EOG Shares Sold by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management cut its EOG Resources stake by 8.5% in the fourth quarter, selling 31,247 shares and leaving it with 336,859 shares valued at about $35.4 million.
• EOG Resources posted strong first-quarter results, beating EPS and revenue estimates with earnings of $3.41 per share and revenue of $6.92 billion, up 22.1% from a year earlier.
• The company also announced a quarterly dividend of $1.02 per share, payable July 31, which implies a 2.9% annualized yield; analysts currently rate the stock a consensus Moderate Buy with a $156.39 target price.

Bridges Investment Management Inc. lowered its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,859 shares of the energy exploration company's stock after selling 31,247 shares during the quarter. Bridges Investment Management Inc. owned approximately 0.06% of EOG Resources worth $35,374,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SCP Investment LP acquired a new position in shares of EOG Resources during the 4th quarter worth approximately $1,386,000. Peak Retirement Planning Inc. boosted its holdings in shares of EOG Resources by 35.1% during the 4th quarter. Peak Retirement Planning Inc. now owns 19,332 shares of the energy exploration company's stock worth $2,030,000 after purchasing an additional 5,021 shares during the last quarter. AXQ Capital LP boosted its holdings in shares of EOG Resources by 45.0% during the 4th quarter. AXQ Capital LP now owns 20,688 shares of the energy exploration company's stock worth $2,172,000 after purchasing an additional 6,418 shares during the last quarter. COFG Advisors LLC acquired a new position in shares of EOG Resources during the 4th quarter worth approximately $248,000. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of EOG Resources by 1.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 24,958 shares of the energy exploration company's stock worth $2,621,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Up 1.6%

Shares of NYSE EOG opened at $138.75 on Wednesday. The company has a 50 day simple moving average of $137.96 and a 200-day simple moving average of $122.05. The company has a market capitalization of $73.90 billion, a P/E ratio of 13.66 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year 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, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter last year, the firm earned $2.87 EPS. The business's revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio is currently 40.16%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EOG. Mizuho set a $157.00 target price on EOG Resources and gave the stock a "neutral" rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their target price on EOG Resources from $145.00 to $148.00 in a report on Thursday, May 7th. Williams Trading set a $177.00 target price on EOG Resources in a report on Monday, April 20th. Citigroup restated a "neutral" rating and set a $147.00 target price (up from $142.00) on shares of EOG Resources in a report on Wednesday, May 20th. Finally, Susquehanna boosted their target price on EOG Resources from $144.00 to $162.00 and gave the stock a "positive" rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.39.

Insider Activity at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,456 shares of company stock worth $1,788,033. Company insiders own 0.14% of the company's stock.

EOG Resources 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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