iA Global Asset Management Inc. Has $1.70 Million Stock Position in EOG Resources, Inc. $EOG

Key Points

• iA Global Asset Management cut its EOG Resources stake by 57.9% in the fourth quarter, leaving it with 16,180 shares valued at about $1.7 million.
• EOG Resources beat quarterly expectations, reporting $3.41 EPS versus $3.23 expected and revenue of $6.92 billion, up 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, or $4.08 annualized, implying a 2.9% yield.

iA Global Asset Management Inc. decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 57.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,180 shares of the energy exploration company's stock after selling 22,270 shares during the quarter. iA Global Asset Management Inc.'s holdings in EOG Resources were worth $1,699,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EOG. JCIC Asset Management Inc. acquired a new position in shares of EOG Resources during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC acquired a new position in shares of EOG Resources during the 4th quarter worth approximately $33,000. Physician Wealth Advisors Inc. increased its position in shares of EOG Resources by 103.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company's stock worth $35,000 after purchasing an additional 170 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of EOG Resources during the 4th quarter worth approximately $38,000. Finally, City Holding Co. increased its position in shares of EOG Resources by 469.2% during the 4th quarter. City Holding Co. now owns 370 shares of the energy exploration company's stock worth $39,000 after purchasing an additional 305 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group boosted their price target on EOG Resources from $141.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Roth Mkm reissued a "neutral" rating and set a $136.00 target price on shares of EOG Resources in a report on Wednesday, May 6th. Stephens decreased their target price on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Royal Bank Of Canada raised their price target on EOG Resources from $138.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, April 8th. Finally, Sanford C. Bernstein set a $155.00 price target on EOG Resources and gave the company a "market perform" rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $154.21.

Insider Buying and Selling at EOG Resources

In related news, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the sale, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. The trade was a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the sale, the chief operating officer owned 88,045 shares of the company's stock, valued at $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,230 shares of company stock valued at $2,522,568 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

EOG Resources Trading Up 2.0%

Shares of EOG Resources stock opened at $143.03 on Tuesday. The business has a fifty day simple moving average of $137.03 and a two-hundred day simple moving average of $119.77. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a market capitalization of $76.18 billion, a price-to-earnings ratio of 14.08 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 (NYSE:EOG - Get Free Report) last announced its quarterly earnings results 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. 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 the consensus estimate of $6.18 billion. During the same quarter last year, the firm posted $2.87 EPS. The company's quarterly revenue was up 22.1% on a year-over-year basis. Research analysts forecast that EOG Resources, Inc. will post 14.83 EPS for the current year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 2.9%. EOG Resources's payout ratio is 40.16%.

About EOG Resources

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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