Massachusetts Financial Services Co. MA Sells 238,017 Shares of EOG Resources, Inc. $EOG

Key Points

• Massachusetts Financial Services trimmed its position in EOG by 4.5%, selling 238,017 shares and now holds 5,029,987 shares worth about $528.2 million (≈0.93% of the company).
• Insiders have been net sellers recently — CFO Ann D. Janssen sold 4,161 shares (~$140 each) and COO Jeffrey R. Leitzell sold 5,698 shares (~$150 each); insiders sold 18,230 shares worth $2.52M in the last 90 days and own 0.14% of the stock.
• EOG beat quarterly EPS estimates ($2.27 vs. $2.20) and announced a quarterly dividend of $1.02 (annualized $4.08, ~3.0% yield); the stock trades around $136 with a market cap of ~$73B, P/E ≈14.96, and an average analyst rating of "Hold" (avg. target $148.11).

Massachusetts Financial Services Co. MA cut its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,029,987 shares of the energy exploration company's stock after selling 238,017 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.93% of EOG Resources worth $528,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EOG. JCIC Asset Management Inc. purchased a new position in EOG Resources in the third quarter valued at about $32,000. Olistico Wealth LLC purchased a new position in EOG Resources in the fourth quarter valued at about $33,000. Salomon & Ludwin LLC boosted its stake in EOG Resources by 122.8% in the third quarter. Salomon & Ludwin LLC now owns 323 shares of the energy exploration company's stock valued at $36,000 after acquiring an additional 178 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in EOG Resources in the third quarter valued at about $37,000. Finally, Quent Capital LLC purchased a new position in EOG Resources in the third quarter valued at about $37,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In related news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction 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 transaction, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,230 shares of company stock worth $2,522,568. 0.14% of the stock is owned by insiders.

EOG Resources Stock Performance

NYSE EOG opened at $136.26 on Friday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42. The stock has a market capitalization of $73.00 billion, a PE ratio of 14.96, a P/E/G ratio of 2.84 and a beta of 0.32. The company's 50 day simple moving average is $130.01 and its two-hundred day simple moving average is $115.52.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The business had revenue of $5.64 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the prior year, the company posted $2.74 EPS. The business's revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio (DPR) is currently 44.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of EOG Resources from $138.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of EOG Resources from $115.00 to $125.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $126.00 target price (down from $144.00) on shares of EOG Resources in a research note on Monday, January 5th. Capital One Financial boosted their target price on shares of EOG Resources from $130.00 to $161.00 and gave the company an "overweight" rating in a research note on Thursday, March 26th. Finally, The Goldman Sachs Group dropped their target price on shares of EOG Resources from $125.00 to $123.00 and set a "neutral" rating on the stock in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have given a Hold rating to the stock. According to MarketBeat, EOG Resources presently has an average rating of "Hold" and an average price target of $148.11.

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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