EOG Resources, Inc. $EOG Shares Sold by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management cut its EOG Resources stake by 30% in the third quarter, selling 9,841 shares and retaining 22,990 shares valued at about $3.17 million.
• EOG reported strong third-quarter results, with earnings of $4.87 per share and revenue of $8.55 billion, both above analyst expectations; revenue rose 46.2% year over year.
• The company raised its quarterly dividend from $1.02 to $1.10 per share, equivalent to $4.40 annually and a 3% yield. Analysts’ consensus rating remained “Hold,” with an average price target of $161.80.

Hohimer Wealth Management LLC decreased its holdings 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 & Exchange Commission. The fund owned 22,990 shares of the energy exploration company's stock after selling 9,841 shares during the quarter. Hohimer Wealth Management LLC's holdings in EOG Resources were worth $3,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Topco LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth about $138,987,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of EOG Resources in the second quarter worth approximately $11,746,000. Parvin Asset Management LLC purchased a new stake in EOG Resources in the second quarter valued at approximately $1,743,000. Transamerica Financial Advisors LLC purchased a new stake in EOG Resources in the second quarter valued at approximately $1,051,000. Finally, Rakuten Investment Management Inc. purchased a new stake in EOG Resources in the second quarter valued at approximately $11,517,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the subject of several research analyst reports. Weiss Ratings raised shares of EOG Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 8th. Roth Capital reiterated a "neutral" rating and issued a $138.00 price target on shares of EOG Resources in a report on Wednesday, August 5th. Barclays boosted their price objective on shares of EOG Resources from $147.00 to $155.00 and gave the company an "equal weight" rating in a research note on Friday. UBS Group reissued a "buy" rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a research note on Friday, October 9th. Finally, Jefferies Financial Group restated a "buy" rating and set a $185.00 price objective on shares of EOG Resources in a report on Saturday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $161.80.

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 Activity

In other news, EVP Michael Donaldson sold 7,336 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey Leitzell sold 9,039 shares of the firm'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. The trade was 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. Over the last quarter, insiders sold 52,317 shares of company stock worth $7,823,480. 0.14% of the stock is currently owned by corporate insiders.

EOG Resources Stock Performance

NYSE:EOG opened at $147.79 on Monday. The firm's fifty day simple moving average is $149.32 and its 200 day simple moving average is $137.83. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $165.93. The firm has a market capitalization of $77.52 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.52 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the prior year, the firm earned $2.71 EPS. The firm's quarterly revenue was up 46.2% compared to the same quarter last year. As a group, equities research analysts expect that EOG Resources, Inc. will post 17.72 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, January 15th. This is a positive change from EOG Resources's previous quarterly dividend of $1.02. This represents a $4.40 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio (DPR) is currently 26.36%.

EOG Resources Company 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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