EOG Resources, Inc. $EOG Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in EOG Resources by 2.4%, now holding 125,975 shares worth approximately $16.15 million after selling 3,123 shares in the first quarter.
• Several institutional investors increased their positions in EOG, with Wealth Enhancement Advisory Services boosting its stake by 37.9%, now owning 162,603 shares valued at $20.85 million.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, reflecting an annual yield of 3.4%, with the dividend payout set for October 31.

Comerica Bank lowered its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,975 shares of the energy exploration company's stock after selling 3,123 shares during the quarter. Comerica Bank's holdings in EOG Resources were worth $16,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Freedom Investment Management Inc. lifted its holdings in EOG Resources by 163.4% during the first quarter. Freedom Investment Management Inc. now owns 10,501 shares of the energy exploration company's stock worth $1,347,000 after buying an additional 6,515 shares during the period. Synovus Financial Corp lifted its holdings in EOG Resources by 2.7% during the first quarter. Synovus Financial Corp now owns 54,645 shares of the energy exploration company's stock worth $7,008,000 after buying an additional 1,419 shares during the period. ICONIQ Capital LLC lifted its holdings in EOG Resources by 60.6% during the first quarter. ICONIQ Capital LLC now owns 2,762 shares of the energy exploration company's stock worth $354,000 after buying an additional 1,042 shares during the period. Quantitative Investment Management LLC purchased a new stake in EOG Resources during the first quarter worth $468,000. Finally, Jump Financial LLC purchased a new stake in EOG Resources during the first quarter worth $2,796,000. Institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the subject of a number of analyst reports. Susquehanna upped their target price on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Argus downgraded EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday. Melius assumed coverage on EOG Resources in a research report on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price on the stock. Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Finally, Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.61.

EOG Resources Stock Performance

Shares of EOG traded up $0.55 during mid-day trading on Friday, reaching $124.89. The company had a trading volume of 1,737,955 shares, compared to its average volume of 3,557,974. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $68.19 billion, a P/E ratio of 12.14, a PEG ratio of 9.39 and a beta of 0.80. The stock has a 50 day moving average of $120.07 and a two-hundred day moving average of $119.00.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The company's revenue was down 9.1% compared to the same quarter last year. On average, analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company's stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.