LGT Group Foundation Has $295,000 Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• LGT Group Foundation significantly reduced its stake in EOG Resources by 96.6%, now holding only 2,300 shares valued at $295,000 after selling 66,200 shares.
• EOG Resources plans to increase its quarterly dividend to $1.02 per share, up from $0.98, with the dividend yield now at 3.4%.
• The company's latest earnings report indicated an EPS of $2.32, exceeding expectations, but revenue declined by 9.1% year-over-year to $5.48 billion.

LGT Group Foundation cut its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 96.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,300 shares of the energy exploration company's stock after selling 66,200 shares during the quarter. LGT Group Foundation's holdings in EOG Resources were worth $295,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of EOG Resources in the first quarter worth about $451,908,000. Capital World Investors increased its holdings in EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after buying an additional 2,270,013 shares during the last quarter. GAMMA Investing LLC increased its holdings in EOG Resources by 14,784.1% in the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after buying an additional 1,272,765 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after buying an additional 1,188,552 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in EOG Resources by 58.6% in the fourth quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after buying an additional 769,362 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Down 0.6%

Shares of NYSE EOG traded down $0.73 during mid-day trading on Friday, reaching $119.06. The company had a trading volume of 2,944,305 shares, compared to its average volume of 3,001,705. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock has a market capitalization of $65.01 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 9.21 and a beta of 0.80. The stock's 50 day moving average is $120.29 and its 200-day moving average is $119.48.

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

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.4%. EOG Resources's dividend payout ratio (DPR) is currently 39.65%.

Analysts Set New Price Targets

Several analysts recently weighed in on EOG shares. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Piper Sandler lowered their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 target price (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Raymond James Financial boosted their price objective on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, Bank of America cut their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Twelve research 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, the stock has an average rating of "Moderate Buy" and an average price target of $140.71.

Insider Buying and Selling

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

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.