Middleton & Co. Inc. MA Decreases Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Middleton & Co. Inc. MA has reduced its holdings in EOG Resources, Inc. by 23.1%, owning 11,708 shares valued at approximately $1.5 million after selling 3,515 shares in the first quarter.
• Analysts have been adjusting their ratings on EOG, with several lowering their price targets, reflecting a cautious outlook, while the stock maintains a consensus rating of "Moderate Buy" with a price target of $140.62.
• EOG Resources recently announced an increase in its quarterly dividend to $1.02, which results in an annual yield of 3.5% and is set to be paid on October 31st.

Middleton & Co. Inc. MA cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 23.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,708 shares of the energy exploration company's stock after selling 3,515 shares during the quarter. Middleton & Co. Inc. MA's holdings in EOG Resources were worth $1,501,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Hancock Whitney Corp boosted its stake in EOG Resources by 5.7% in the fourth quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after buying an additional 92 shares in the last quarter. FSM Wealth Advisors LLC boosted its stake in shares of EOG Resources by 6.2% during the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after purchasing an additional 95 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of EOG Resources by 1.6% during the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after purchasing an additional 97 shares in the last quarter. Bank of Jackson Hole Trust boosted its stake in shares of EOG Resources by 1.6% during the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after purchasing an additional 100 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in shares of EOG Resources by 2.9% during the first quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company's stock valued at $449,000 after purchasing an additional 100 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EOG. Royal Bank Of Canada cut their price target on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Barclays lifted their price target on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Piper Sandler cut their price target on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Finally, Raymond James Financial lifted their price target on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and an average target price of $140.62.

EOG Resources Price Performance

Shares of EOG Resources stock traded down $1.10 on Wednesday, hitting $116.68. 3,050,415 shares of the company were exchanged, compared to its average volume of 2,859,118. The stock 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 company has a 50-day moving average price of $119.23 and a 200 day moving average price of $120.26. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

EOG Resources Increases Dividend

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

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.13% of the stock is owned by corporate insiders.

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.