Fifth Third Bancorp Decreases Stake in EOG Resources, Inc. $EOG

Key Points

• Fifth Third Bancorp trimmed its stake in EOG Resources by 6.2% in Q4, selling 13,851 shares and leaving 209,285 shares worth about $21.98 million.
• Company insiders have been selling recently — CFO Ann D. Janssen and COO Jeffrey R. Leitzell disclosed sales, and insiders sold a total of 18,230 shares valued at $2.52 million over the past three months.
• Analysts have raised price targets (e.g., RBC to $175, Raymond James to $185), resulting in a consensus rating of “Moderate Buy” and an average target price of $153.68.

Fifth Third Bancorp cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,285 shares of the energy exploration company's stock after selling 13,851 shares during the quarter. Fifth Third Bancorp's holdings in EOG Resources were worth $21,977,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. JCIC Asset Management Inc. purchased a new stake in shares of EOG Resources in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in EOG Resources during the fourth quarter worth $33,000. Salomon & Ludwin LLC raised its holdings in EOG Resources by 122.8% during the third quarter. Salomon & Ludwin LLC now owns 323 shares of the energy exploration company's stock worth $36,000 after purchasing an additional 178 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in EOG Resources during the third quarter worth $37,000. Finally, Quent Capital LLC acquired a new position in EOG Resources during the third quarter worth $37,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company's stock, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,230 shares of company stock valued at $2,522,568 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on EOG shares. Royal Bank Of Canada lifted their price objective on EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Sanford C. Bernstein lifted their price objective on EOG Resources from $126.00 to $167.00 and gave the stock a "market perform" rating in a report on Monday, April 13th. Raymond James Financial lifted their price objective on EOG Resources from $157.00 to $185.00 and gave the stock a "strong-buy" rating in a report on Friday, March 27th. Stephens lifted their price objective on EOG Resources from $139.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. Finally, Scotiabank lifted their price objective on EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $153.68.

EOG Resources Stock Performance

NYSE EOG opened at $139.09 on Friday. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The stock has a market cap of $74.51 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.76 and a beta of 0.32. The business has a fifty day moving average of $134.92 and a 200-day moving average of $117.61. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The business's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.74 earnings per share. As a group, analysts predict that EOG Resources, Inc. will post 14.68 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $4.08 annualized dividend and a yield of 2.9%. EOG Resources's payout ratio is presently 44.79%.

EOG Resources 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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