Huntington National Bank Sells 52,558 Shares of EOG Resources, Inc. $EOG

Key Points

• Huntington National Bank cut its EOG Resources stake by 38.8% in the fourth quarter, selling 52,558 shares and leaving it with 82,739 shares valued at about $8.69 million.
• Insiders also sold shares: CFO Ann D. Janssen and COO Jeffrey R. Leitzell both reduced their holdings, and insiders sold 16,230 shares total in the last quarter.
• EOG reported stronger-than-expected results, with quarterly EPS of $3.41 and revenue of $6.92 billion, while analysts maintain a consensus Moderate Buy rating and a $156.39 price target.

Huntington National Bank reduced its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 38.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,739 shares of the energy exploration company's stock after selling 52,558 shares during the quarter. Huntington National Bank's holdings in EOG Resources were worth $8,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rockland Trust Co. boosted its holdings in shares of EOG Resources by 5.1% in the third quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company's stock worth $27,618,000 after buying an additional 11,965 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of EOG Resources by 2.1% in the third quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after buying an additional 68,888 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of EOG Resources by 21.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company's stock worth $7,380,000 after buying an additional 11,442 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of EOG Resources by 1,413.5% in the third quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company's stock worth $2,863,000 after buying an additional 23,846 shares during the last quarter. Finally, L2 Asset Management LLC boosted its holdings in shares of EOG Resources by 69.6% in the third quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock worth $2,170,000 after buying an additional 7,940 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the sale, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the sale, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. The trade was a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,230 shares of company stock worth $2,272,568. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Williams Trading set a $177.00 price target on shares of EOG Resources in a report on Monday, April 20th. Roth Mkm reaffirmed a "neutral" rating and set a $136.00 price target on shares of EOG Resources in a report on Wednesday, May 6th. Raymond James Financial lifted their price target on shares of EOG Resources from $157.00 to $185.00 and gave the company a "strong-buy" rating in a report on Friday, March 27th. Jefferies Financial Group lifted their price target on shares of EOG Resources from $146.00 to $170.00 and gave the company a "buy" rating in a report on Monday, April 13th. Finally, Mizuho set a $157.00 price target on shares of EOG Resources and gave the company a "neutral" rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.39.

EOG Resources Trading Up 0.2%

EOG Resources stock opened at $134.52 on Friday. The stock has a market cap of $71.65 billion, a P/E ratio of 13.24 and a beta of 0.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The firm's 50 day moving average price is $138.09 and its 200-day moving average price is $121.67.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.87 earnings per share. On average, equities analysts predict that EOG Resources, Inc. will post 15.67 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

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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