ING Groep NV Lowers Stock Position in EOG Resources, Inc. (NYSE:EOG)

Key Points

• ING Groep NV significantly reduced its stake in EOG Resources by 56.6%, selling 85,618 shares and retaining 65,719 shares valued at approximately $8.4 million.
• EOG Resources recently increased its quarterly dividend to $1.02 per share, with an annualized amount of $4.08 and a dividend yield of 3.5%.
• Investment analysts have set varying price targets for EOG Resources, with an average target of $140.62 and ratings ranging from hold to positive.

ING Groep NV cut its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 56.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,719 shares of the energy exploration company's stock after selling 85,618 shares during the period. ING Groep NV's holdings in EOG Resources were worth $8,428,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hancock Whitney Corp boosted its stake in shares of EOG Resources by 5.7% during the 4th quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock worth $211,000 after purchasing an additional 92 shares during the period. FSM Wealth Advisors LLC boosted its position in EOG Resources by 6.2% in the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after buying an additional 95 shares during the period. Sigma Planning Corp boosted its position in EOG Resources by 1.6% in the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after buying an additional 97 shares during the period. Bank of Jackson Hole Trust boosted its position in EOG Resources by 1.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after buying an additional 100 shares during the period. Finally, Malaga Cove Capital LLC boosted its position 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 buying an additional 100 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EOG shares. Jefferies Financial Group reissued a "buy" rating and issued a $148.00 price objective (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Raymond James Financial upped their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Susquehanna boosted their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Bank of America reduced their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Roth Capital lowered shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their price target for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of "Moderate Buy" and an average target price of $140.62.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by insiders.

EOG Resources Stock Performance

EOG Resources stock traded down $1.10 during mid-day trading on Wednesday, reaching $116.68. 3,050,415 shares of the company traded hands, compared to its average volume of 2,859,118. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a market capitalization of $63.68 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 9.02 and a beta of 0.80. The firm's fifty day moving average is $119.23 and its two-hundred day moving average is $120.26.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

EOG Resources 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.