EOG Resources, Inc. (NYSE:EOG) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in EOG Resources by 4.8%, holding approximately 4.2 million shares worth $538.6 million at the end of the first quarter.
• EOG Resources recently declared a quarterly dividend of $1.02 per share, an increase from the previous $0.98, resulting in an annualized yield of 3.5%.
• Analysts have varying ratings for EOG Resources, with a consensus rating of "Moderate Buy" and a target price of $140.62 based on recent evaluations.

Invesco Ltd. cut its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,199,862 shares of the energy exploration company's stock after selling 209,757 shares during the quarter. Invesco Ltd. owned about 0.77% of EOG Resources worth $538,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank Pictet & Cie Europe AG raised its stake in shares of EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after buying an additional 89,521 shares during the last quarter. Scotia Capital Inc. raised its stake in shares of EOG Resources by 4.4% during the 4th quarter. Scotia Capital Inc. now owns 19,736 shares of the energy exploration company's stock worth $2,419,000 after buying an additional 835 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of EOG Resources by 13.6% during the 4th quarter. Townsquare Capital LLC now owns 21,374 shares of the energy exploration company's stock worth $2,620,000 after buying an additional 2,563 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of EOG Resources during the 4th quarter worth $627,000. Finally, Altman Advisors Inc. raised its stake in shares of EOG Resources by 1.9% during the 4th quarter. Altman Advisors Inc. now owns 13,199 shares of the energy exploration company's stock worth $1,618,000 after buying an additional 252 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EOG has been the subject of several research reports. Bank of America cut their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 price objective (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Barclays increased their price objective on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

Insiders Place Their Bets

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

EOG Resources Price Performance

Shares of EOG Resources stock opened at $116.09 on Monday. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a market capitalization of $63.38 billion, a P/E ratio of 11.28, a PEG ratio of 8.90 and a beta of 0.80. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The business's fifty day moving average price is $119.63 and its 200 day moving average price is $119.76.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the company posted $3.16 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. As a group, research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 37.90%.

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.

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