EOG Resources, Inc. (NYSE:EOG) Shares Sold by GAM Holding AG

GAM Holding AG lowered its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 16.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 62,769 shares of the energy exploration company's stock after selling 12,142 shares during the period. GAM Holding AG's holdings in EOG Resources were worth $8,049,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Capital World Investors boosted its position in shares of EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company's stock worth $2,230,014,000 after purchasing an additional 781,282 shares during the last quarter. Geode Capital Management LLC boosted its holdings in EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock worth $1,541,282,000 after purchasing an additional 234,067 shares during the last quarter. Northern Trust Corp raised its position in EOG Resources by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock worth $701,036,000 after acquiring an additional 159,216 shares during the period. Finally, Alliancebernstein L.P. raised its position in EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company's stock worth $696,990,000 after acquiring an additional 365,115 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. This represents a 7.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.

EOG Resources Price Performance

Shares of EOG traded up $1.62 during midday trading on Friday, hitting $125.40. 11,228,066 shares of the company traded hands, compared to its average volume of 3,372,209. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a market cap of $68.44 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 10.24 and a beta of 0.74. The firm has a 50 day moving average of $113.49 and a 200-day moving average of $121.56.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company posted $2.82 earnings per share. The company's quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts forecast 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. Stockholders of record on Friday, October 17th will be given a $1.02 dividend. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.25%. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EOG shares. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Barclays boosted their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Bank of America lowered their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Piper Sandler lowered their price target on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company upped their target price on shares of EOG Resources from $146.00 to $148.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.48.

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.