Gabelli Funds LLC Decreases Stock Position in EOG Resources, Inc. $EOG

Key Points

• Gabelli Funds LLC reduced its stake in EOG Resources by 1.5%, selling 2,700 shares, which left them with 178,700 shares valued at approximately $22.9 million.
• EOG Resources has seen a recent increase in institutional investment, with firms like Vanguard and Charles Schwab raising their stakes in the company during the 1st quarter.
• The company announced a quarterly dividend increase from $0.98 to $1.02, representing an annualized dividend of $4.08 and a yield of 3.4%.

Gabelli Funds LLC decreased its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,700 shares of the energy exploration company's stock after selling 2,700 shares during the quarter. Gabelli Funds LLC's holdings in EOG Resources were worth $22,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EOG. Granite Harbor Advisors Inc. raised its holdings in shares of EOG Resources by 3.2% during the 1st quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after acquiring an additional 94 shares during the period. FSM Wealth Advisors LLC increased its position in EOG Resources by 6.2% during the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares during the last quarter. Sigma Planning Corp increased its position in EOG Resources by 1.6% during the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after purchasing an additional 97 shares during the last quarter. Bank of Jackson Hole Trust raised its stake in EOG Resources by 1.6% during the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock worth $791,000 after purchasing an additional 100 shares during the period. Finally, Malaga Cove Capital LLC boosted its holdings in EOG Resources by 2.9% in the 1st quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company's stock valued at $449,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Trading Up 0.4%

EOG traded up $0.55 during mid-day trading on Friday, hitting $124.89. 1,737,955 shares of the stock were exchanged, compared to its average volume of 2,737,268. The firm's fifty day moving average is $120.06 and its two-hundred day moving average is $118.95. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a market cap of $68.19 billion, a PE ratio of 12.14, a PEG ratio of 9.50 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.

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

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of recent analyst reports. Melius Research assumed coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target for the company. Royal Bank Of Canada lowered their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Finally, Barclays raised their price objective on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.61.

EOG Resources Company Profile

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.