Hudson Edge Investment Partners Inc. Sells 8,360 Shares of EOG Resources, Inc. $EOG

Key Points

• Hudson Edge Investment Partners reduced its EOG Resources stake by 12.6% in the first quarter, selling 8,360 shares and leaving it with 58,110 shares valued at about $8.4 million.
• EOG Resources reported stronger-than-expected quarterly results, posting EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion, up 22.1% year over year.
• The company also declared a quarterly dividend of $1.02 per share, implying a 3.1% annualized yield, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $155.25.

Hudson Edge Investment Partners Inc. trimmed its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,110 shares of the energy exploration company's stock after selling 8,360 shares during the quarter. EOG Resources makes up 1.2% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 13th biggest position. Hudson Edge Investment Partners Inc.'s holdings in EOG Resources were worth $8,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital World Investors grew its holdings in EOG Resources by 1.4% during the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock valued at $6,156,495,000 after purchasing an additional 782,426 shares during the period. Vanguard Group Inc. raised its stake in shares of EOG Resources by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock valued at $5,651,172,000 after buying an additional 446,341 shares during the period. State Street Corp lifted its position in shares of EOG Resources by 0.3% during the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock valued at $3,209,365,000 after buying an additional 100,080 shares during the last quarter. Capital Research Global Investors lifted its position in shares of EOG Resources by 0.5% during the 3rd quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company's stock valued at $2,794,784,000 after buying an additional 122,486 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of EOG Resources by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock worth $2,099,028,000 after acquiring an additional 371,548 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

Shares of EOG opened at $130.81 on Friday. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The stock's 50-day simple moving average is $135.71 and its 200 day simple moving average is $126.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The stock has a market capitalization of $69.67 billion, a price-to-earnings ratio of 12.87 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the previous year, the firm earned $2.87 EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. Research analysts forecast that EOG Resources, Inc. will post 16.23 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 3.1%. EOG Resources's payout ratio is currently 40.16%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EOG. Barclays lifted their price objective on EOG Resources from $140.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 26th. Williams Trading set a $177.00 target price on shares of EOG Resources in a research report on Monday, April 20th. Zacks Research downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Jefferies Financial Group reissued a "buy" rating and issued a $175.00 price target (up from $170.00) on shares of EOG Resources in a research report on Thursday. Finally, Truist Financial dropped their price target on shares of EOG Resources from $149.00 to $134.00 and set a "hold" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $155.25.

EOG Resources Company 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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