Kovitz Investment Group Partners LLC Lowers Stake in EOG Resources, Inc. $EOG

Key Points

• Kovitz Investment Group Partners cut its EOG Resources stake by 89.2% in the fourth quarter, selling 212,269 shares and leaving it with 25,720 shares worth about $2.7 million.
• EOG Resources posted strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion topping expectations; revenue also rose 22.1% year over year.
• The company announced a quarterly dividend of $1.02 per share, payable July 31, implying an annualized dividend of $4.08 and a 3.1% yield.

Kovitz Investment Group Partners LLC decreased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 89.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,720 shares of the energy exploration company's stock after selling 212,269 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in EOG Resources were worth $2,701,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new stake in shares of EOG Resources in the second quarter valued at $258,000. Quantbot Technologies LP purchased a new stake in shares of EOG Resources in the 2nd quarter valued at $349,000. Gamco Investors INC. ET AL lifted its stake in 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 acquiring an additional 4,485 shares in the last quarter. NewEdge Advisors LLC lifted its stake in 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 acquiring an additional 444 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in EOG Resources by 4.4% during the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after acquiring an additional 15,250 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Trading Up 0.1%

EOG opened at $130.05 on Friday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The stock has a market capitalization of $69.27 billion, a price-to-earnings ratio of 12.80 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The business has a fifty day moving average price of $135.96 and a 200 day moving average price of $124.75.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.EOG Resources's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.87 EPS. Sell-side analysts expect that EOG Resources, Inc. will post 16.63 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. Shareholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the business's 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on EOG shares. Susquehanna lifted their target price on EOG Resources from $144.00 to $162.00 and gave the company a "positive" rating in a research report on Tuesday, April 21st. Scotiabank increased their price target on shares of EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Truist Financial raised their price objective on shares of EOG Resources from $146.00 to $149.00 and gave the company a "hold" rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Finally, Capital One Financial cut their target price on shares of EOG Resources from $161.00 to $159.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $156.32.

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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