Kentucky Retirement Systems Decreases Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Kentucky Retirement Systems cut its EOG Resources stake by 34.3% in the first quarter, selling 11,775 shares and retaining 22,537 shares valued at approximately $3.26 million. Institutional investors collectively own 89.91% of EOG’s stock.
• EOG reported strong quarterly results, with earnings of $3.41 per share and revenue of $6.92 billion, exceeding analyst expectations. Revenue increased 22.1% year over year, while analysts project $16.16 in full-year EPS.
• The company declared a quarterly dividend of $1.02, equivalent to a $4.08 annualized payout and a 2.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $155.32, compared with a share price of $145.56.

Kentucky Retirement Systems reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 34.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,537 shares of the energy exploration company's stock after selling 11,775 shares during the quarter. Kentucky Retirement Systems' holdings in EOG Resources were worth $3,258,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Sivia Capital Partners LLC bought a new position in EOG Resources in the 2nd quarter valued at $258,000. Quantbot Technologies LP bought a new stake in shares of EOG Resources during the 2nd quarter worth $349,000. Gamco Investors INC. ET AL raised its stake in shares of EOG Resources by 216.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock worth $785,000 after purchasing an additional 4,485 shares during the period. NewEdge Advisors LLC raised its stake in shares of EOG Resources by 2.0% during the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock worth $2,725,000 after purchasing an additional 444 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of EOG Resources by 4.4% in the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock worth $43,356,000 after buying an additional 15,250 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Price Performance

NYSE EOG opened at $145.56 on Friday. The company has a market cap of $77.53 billion, a PE ratio of 14.33 and a beta of 0.25. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm's 50-day simple moving average is $136.81 and its two-hundred day simple moving average is $131.15.

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, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm 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 company earned $2.87 earnings per share. The company's revenue was up 22.1% on a year-over-year basis. Research analysts predict that EOG Resources, Inc. will post 16.16 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources's dividend payout ratio (DPR) is 40.16%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. DA Davidson lifted their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Jefferies Financial Group reiterated a "buy" rating and issued a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Wall Street Zen raised shares of EOG Resources from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Mizuho set a $157.00 price target on shares of EOG Resources and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $155.32.

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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