EOG Resources, Inc. $EOG Shares Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP cut its EOG Resources stake by 30% in the third quarter, selling 198,955 shares and retaining 465,218 shares valued at approximately $64.1 million. Institutional investors collectively own nearly 90% of the company.
• EOG exceeded quarterly expectations with earnings of $5.07 per share versus the $4.97 consensus and revenue of $8.62 billion, up 57.4% year over year. The company also declared a quarterly dividend of $1.02 per share, equivalent to a 2.6% annualized yield.
• EOG shares traded near their 52-week high, while analyst sentiment remained mixed: the consensus rating was Hold with a $161.24 target price, despite several recent target increases and upgrades.

Cooke & Bieler LP lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 30.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 465,218 shares of the energy exploration company's stock after selling 198,955 shares during the quarter. Cooke & Bieler LP owned about 0.09% of EOG Resources worth $64,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of EOG. SJS Investment Consulting Inc. raised its stake in 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 in the last quarter. Byrne Asset Management LLC lifted its holdings in EOG Resources by 469.4% in the third quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company's stock worth $29,000 after buying an additional 169 shares during the period. Financial Life Planners purchased a new stake in EOG Resources in the first quarter worth about $30,000. Wedbush Fund Advisers LLC bought a new stake in EOG Resources during the 2nd quarter valued at approximately $31,000. Finally, Global Assets Advisory LLC bought a new stake in EOG Resources during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Up 0.1%

NYSE:EOG opened at $158.02 on Thursday. The firm's 50-day moving average price is $146.89 and its 200-day moving average price is $140.54. The company has a market capitalization of $82.89 billion, a PE ratio of 11.73, a P/E/G ratio of 0.56 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $159.93.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. During the same period last year, the business earned $2.32 EPS. EOG Resources's quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities analysts predict that EOG Resources, Inc. will post 17.48 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.6%. EOG Resources's payout ratio is presently 31.75%.

Trending Headlines about EOG Resources

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

• Positive Sentiment: Analyst targets raised: Susquehanna lifted its price target to $187 and assigned a positive rating, implying meaningful upside from recent levels. BMO also increased its target from $170 to $175, signaling continued confidence in EOG’s outlook. Susquehanna raises EOG target to $187 BMO raises EOG target to $175
• Positive Sentiment: Better-than-expected results: EOG reported adjusted earnings of $5.07 per share, above the $4.97 consensus estimate. Revenue reached $8.62 billion versus expectations of $8.04 billion, while revenue increased 57.4% year over year. The results were attributed to production gains, efficient asset utilization and disciplined execution. EOG reports $5.07 adjusted EPS
• Positive Sentiment: Improving momentum: Recent earnings beats and upward profit-estimate revisions have helped EOG reach a new 52-week high, reinforcing investor confidence in its drilling efficiency, infrastructure investments and long-term profitability. What EOG’s earnings beat means for shareholders
• Neutral Sentiment: Valuation remains debated: Some analysis characterizes EOG as undervalued based on earnings and cash-flow potential, while another cautions that the stock may trade below fair value only after a roughly 113% five-year gain. The strong rally and elevated valuation could temper additional gains despite favorable fundamentals. EOG may trade below fair value after its run Is EOG undervalued?

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey Leitzell sold 9,039 shares of the company's stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the sale, the chief operating officer owned 90,790 shares in the company, valued at approximately $12,765,981.90. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 dated 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 completion of the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,317 shares of company stock valued at $7,823,480 over the last quarter. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of research analyst reports. Capital One Financial downgraded EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 target price on the stock. in a report on Wednesday, August 26th. The Goldman Sachs Group reissued a "neutral" rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Wall Street Zen upgraded EOG Resources from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Zacks Research upgraded EOG Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 16th. Finally, Scotiabank started coverage on EOG Resources in a research report on Wednesday, October 14th. They set a "sector perform" rating and a $144.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $161.24.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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