EOG Resources, Inc. $EOG Shares Sold by Glenview Trust Co

Key Points

• Glenview Trust Co. reduced its EOG Resources stake by 24% in the third quarter, selling 8,870 shares and retaining 28,124 shares valued at approximately $3.87 million. Institutional investors collectively own 89.91% of the company.
• Analysts maintain a generally cautious outlook, with EOG receiving an average rating of “Hold” and an average price target of $161.24, despite UBS raising its target to $186.
• EOG reported quarterly earnings of $5.07 per share and revenue of $8.62 billion, exceeding estimates, while insiders sold 52,317 shares worth $7.82 million over the past three months. The company also declared a quarterly dividend of $1.02, representing a 2.5% annualized yield.

Glenview Trust Co decreased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 24.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,124 shares of the energy exploration company's stock after selling 8,870 shares during the quarter. Glenview Trust Co's holdings in EOG Resources were worth $3,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of EOG Resources during the 2nd quarter valued at about $5,905,587,000. Dimensional Fund Advisors LP grew its stake in shares of EOG Resources by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company's stock valued at $848,228,000 after acquiring an additional 54,091 shares during the period. Bank of New York Mellon Corp bought a new position in shares of EOG Resources during the 2nd quarter valued at approximately $654,899,000. Bank of America Corp DE bought a new position in shares of EOG Resources during the 2nd quarter valued at approximately $551,321,000. Finally, First Trust Advisors LP increased its holdings in EOG Resources by 15.7% in the 1st quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company's stock worth $498,189,000 after acquiring an additional 468,090 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group restated a "buy" rating and set a $186.00 target price (up from $183.00) on shares of EOG Resources in a research note on Friday, October 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a report on Monday, August 24th. Morgan Stanley upped their price target on shares of EOG Resources from $157.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Stifel Nicolaus started coverage on shares of EOG Resources in a research note on Thursday, September 10th. They issued a "hold" rating and a $158.00 price objective for the company. Finally, Scotiabank assumed coverage on shares of EOG Resources in a research note on Wednesday, October 14th. They issued a "sector perform" rating and a $144.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $161.24.

Insiders Place Their Bets

In other EOG Resources news, CEO Ezra Yacob sold 35,942 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey Leitzell sold 9,039 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,317 shares of company stock worth $7,823,480 in the last three months. 0.14% of the stock is owned by company insiders.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $165.58 on Friday. The stock's 50-day simple moving average is $149.06 and its 200-day simple moving average is $136.76. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $165.93. The company has a market capitalization of $86.85 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.58 and a beta of 0.36. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the company posted $2.32 earnings per share. The business's quarterly revenue was up 57.4% compared to the same quarter last year. As a group, analysts expect that EOG Resources, Inc. will post 17.70 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were issued a $1.02 dividend. The ex-dividend date of this dividend was Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.5%. EOG Resources's payout ratio is currently 31.75%.

EOG Resources 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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