Freestone Capital Holdings LLC Sells 4,938 Shares of EOG Resources, Inc. $EOG

Key Points

• Freestone Capital Holdings LLC reduced its stake in EOG Resources by 19.3%, selling 4,938 shares during the first quarter, bringing its total ownership to approximately $2.65 million.
• A variety of institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly either increased their stakes or entered new positions in EOG, reflecting strong interest in the company.
• EOG Resources has announced an increase in its dividend to $1.02 per share, with a dividend yield of 3.4%, scheduled for payment on October 31st.

Freestone Capital Holdings LLC lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 19.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,669 shares of the energy exploration company's stock after selling 4,938 shares during the period. Freestone Capital Holdings LLC's holdings in EOG Resources were worth $2,651,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EOG. Nuveen LLC bought a new position in EOG Resources during the 1st quarter worth $451,908,000. GAMMA Investing LLC increased its stake in EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after acquiring an additional 1,272,765 shares during the period. Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after acquiring an additional 1,188,552 shares during the period. Deutsche Bank AG increased its stake in shares of EOG Resources by 58.6% in the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after purchasing an additional 769,362 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of EOG Resources by 134.7% during the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock worth $158,720,000 after buying an additional 743,202 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Mizuho lowered their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Jefferies Financial Group reissued a "buy" rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Susquehanna boosted 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. Stephens assumed coverage on EOG Resources in a report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price target for the company. Finally, Royal Bank Of Canada lowered their price target on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources has a consensus 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 EOG Resources stock in a transaction dated 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 directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company's stock.

EOG Resources Trading Down 0.6%

Shares of EOG stock opened at $119.06 on Monday. The firm has a market capitalization of $65.01 billion, a P/E ratio of 11.57, a P/E/G ratio of 9.15 and a beta of 0.80. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The stock's fifty day simple moving average is $120.29 and its 200 day simple moving average is $119.33.

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

EOG Resources Increases Dividend

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