Howard Capital Management Inc. Sells 9,070 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Howard Capital Management Inc. significantly reduced its stake in EOG Resources, Inc. by 60.8%, holding 5,842 shares worth approximately $749,000 after selling 9,070 shares in the first quarter.
• EOG Resources announced a quarterly dividend of $1.02 per share, reflecting an increase from the previous dividend of $0.98, with a yield of 3.36% and a payout ratio of 36.18%.
• Analysts have set a range for EOG Resources' stock price targets, with estimates varying from $140.00 to $161.00, while the stock maintains an average rating of "Moderate Buy" among investors.

Howard Capital Management Inc. trimmed its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 60.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,842 shares of the energy exploration company's stock after selling 9,070 shares during the quarter. Howard Capital Management Inc.'s holdings in EOG Resources were worth $749,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EOG. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $34,000. Ameriflex Group Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $36,000. 10Elms LLP acquired a new stake in shares of EOG Resources in the fourth quarter valued at approximately $44,000. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $51,000. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

EOG Resources Price Performance

EOG Resources stock traded down $3.38 during mid-day trading on Friday, reaching $116.64. 2,688,978 shares of the company were exchanged, compared to its average volume of 2,830,165. The company has a fifty day simple moving average of $118.96 and a 200-day simple moving average of $120.65. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The firm has a market cap of $63.66 billion, a PE ratio of 10.82, a PEG ratio of 9.22 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.82 EPS. The company's revenue was down 7.4% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. EOG Resources's dividend payout ratio is 36.18%.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent analyst reports. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and cut their price objective for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $148.00 price objective (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Mizuho cut their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Susquehanna lifted their price target on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources has a consensus rating of "Moderate Buy" and an average price target of $140.62.

About EOG Resources

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.