EOG Resources, Inc. $EOG Shares Sold by Public Employees Retirement Association of Colorado

Key Points

• Public Employees Retirement Association of Colorado trimmed its EOG Resources stake by 1.9% in the fourth quarter, selling 23,154 shares and ending with 1,166,383 shares valued at about $122.5 million.
• EOG reported a strong quarter, with EPS of $3.41 topping estimates and revenue of $6.92 billion beating expectations; revenue rose 22.1% year over year. The company also posted a 23.01% net margin and 19.25% return on equity.
• The company declared a quarterly dividend of $1.02 per share, implying a 3.0% annual yield, while analysts currently rate the stock a Moderate Buy with an average price target of $156.32.

Public Employees Retirement Association of Colorado cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,166,383 shares of the energy exploration company's stock after selling 23,154 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.21% of EOG Resources worth $122,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc boosted its position in EOG Resources by 2.1% during the third quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after acquiring an additional 68,888 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in EOG Resources by 66.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company's stock worth $2,073,000 after acquiring an additional 7,877 shares during the last quarter. L2 Asset Management LLC boosted its position in EOG Resources by 69.6% during the third quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock worth $2,170,000 after acquiring an additional 7,940 shares during the last quarter. Alberta Investment Management Corp boosted its position in EOG Resources by 254.5% during the third quarter. Alberta Investment Management Corp now owns 19,500 shares of the energy exploration company's stock worth $2,186,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company's stock worth $123,451,000 after acquiring an additional 24,984 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

NYSE:EOG opened at $136.42 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The firm has a market capitalization of $72.66 billion, a price-to-earnings ratio of 13.43 and a beta of 0.25. The company's 50-day moving average is $137.04 and its two-hundred day moving average is $123.99. 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 posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the business posted $2.87 EPS. EOG Resources's revenue was up 22.1% on a year-over-year basis. Analysts forecast that EOG Resources, Inc. will post 16.63 EPS for the current year.

EOG Resources Announces Dividend

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 3.0%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio is currently 40.16%.

Insider Activity at EOG Resources

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

Analyst Ratings Changes

Several research firms have weighed in on EOG. Piper Sandler boosted their target price on shares of EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. UBS Group boosted their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a "buy" rating in a report on Monday, March 2nd. JPMorgan Chase & Co. boosted their target price on shares of EOG Resources from $145.00 to $148.00 in a report on Thursday, May 7th. Susquehanna boosted their target price on shares of EOG Resources from $144.00 to $162.00 and gave the company a "positive" rating in a report on Tuesday, April 21st. Finally, Capital One Financial decreased their target price on shares of EOG Resources from $161.00 to $159.00 and set an "overweight" rating on the stock in a report on Wednesday, June 3rd. One investment 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.32.

EOG Resources Company 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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