Bank Pictet & Cie Europe AG Sells 74,170 Shares of EOG Resources, Inc. (NYSE:EOG)

Bank Pictet & Cie Europe AG cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 29.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,229 shares of the energy exploration company's stock after selling 74,170 shares during the period. Bank Pictet & Cie Europe AG's holdings in EOG Resources were worth $22,343,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Valmark Advisers Inc. boosted its stake in EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company's stock worth $385,000 after acquiring an additional 79 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of EOG Resources by 8.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company's stock valued at $121,000 after purchasing an additional 80 shares during the last quarter. 1ST Source Bank raised its holdings in shares of EOG Resources by 1.5% in the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company's stock valued at $656,000 after purchasing an additional 80 shares during the last quarter. Penobscot Investment Management Company Inc. increased its holdings in EOG Resources by 2.0% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock worth $498,000 after buying an additional 80 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in EOG Resources by 1.4% during the fourth quarter. TD Private Client Wealth LLC now owns 5,786 shares of the energy exploration company's stock worth $709,000 after buying an additional 81 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

EOG Resources Trading Down 1.7%

EOG Resources stock traded down $2.09 during mid-day trading on Monday, hitting $123.20. The company's stock had a trading volume of 5,138,602 shares, compared to its average volume of 3,336,418. The business has a 50 day moving average price of $111.99 and a 200-day moving average price of $121.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The stock has a market cap of $67.24 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. EOG Resources's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. As a group, analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.31%. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EOG shares. Piper Sandler decreased their price objective on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their price objective on shares of EOG Resources from $134.00 to $125.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Scotiabank upgraded shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the stock from $150.00 to $130.00 in a report on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of EOG Resources from $146.00 to $148.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Williams Trading set a $154.00 price objective on shares of EOG Resources in a report on Wednesday, March 5th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of "Moderate Buy" and a consensus price target of $140.10.

EOG Resources 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.