Maryland State Retirement & Pension System Has $3.36 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in EOG Resources by 13.6%, owning 26,233 shares valued at approximately $3.36 million as of the latest SEC filing.
• EOG Resources increased its quarterly dividend from $0.98 to $1.02, with a dividend yield of 3.5% and a payout ratio of 36.18%.
• The latest earnings report showed EOG Resources outperforming analysts' expectations with $2.32 earnings per share for the quarter, compared to a forecast of $2.14.

Maryland State Retirement & Pension System lowered its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 13.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,233 shares of the energy exploration company's stock after selling 4,144 shares during the quarter. Maryland State Retirement & Pension System's holdings in EOG Resources were worth $3,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in EOG. Waycross Partners LLC boosted its stake in shares of EOG Resources by 26.4% in the 1st quarter. Waycross Partners LLC now owns 124,515 shares of the energy exploration company's stock valued at $15,968,000 after purchasing an additional 26,043 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Corbyn Investment Management Inc. MD lifted its holdings in shares of EOG Resources by 0.7% in the 1st quarter. Corbyn Investment Management Inc. MD now owns 41,864 shares of the energy exploration company's stock worth $5,369,000 after purchasing an additional 276 shares in the last quarter. Hemington Wealth Management grew its stake in shares of EOG Resources by 8.4% in the 1st quarter. Hemington Wealth Management now owns 1,324 shares of the energy exploration company's stock worth $169,000 after acquiring an additional 103 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after acquiring an additional 348,895 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

EOG stock opened at $115.95 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. The business's fifty day simple moving average is $119.48 and its two-hundred day simple moving average is $120.09. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The firm has a market cap of $63.28 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 8.93 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the company earned $3.16 earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

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

Analyst Ratings Changes

EOG has been the subject of several research reports. Susquehanna increased their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and lowered their target price for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada reduced their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Piper Sandler cut their target price on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, UBS Group reaffirmed a "buy" rating and issued a $140.00 price target (up previously from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.62.

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.

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