Mizuho Securities USA LLC Has $5.78 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Mizuho Securities USA LLC reduced its holdings in EOG Resources, Inc. by 15.5%, selling 8,273 shares during the first quarter, leaving them with 45,035 shares valued at approximately $5.8 million.
• Analysts have mixed forecasts for EOG Resources, with Barclays raising the target price from $137.00 to $140.00, while Mizuho lowered it from $140.00 to $134.00, signaling a "neutral" rating.
• EOG Resources recently increased its quarterly dividend to $1.02 per share, representing an annualized total of $4.08 with a yield of 3.5%.

Mizuho Securities USA LLC trimmed its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,035 shares of the energy exploration company's stock after selling 8,273 shares during the quarter. Mizuho Securities USA LLC's holdings in EOG Resources were worth $5,775,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources in the 1st quarter worth about $26,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources in the 1st quarter worth about $34,000. Ameriflex Group Inc. bought a new position in shares of EOG Resources in the 4th quarter worth about $36,000. 10Elms LLP bought a new position in shares of EOG Resources in the 4th quarter worth about $44,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of EOG Resources in the 1st quarter worth about $51,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Up 0.2%

Shares of EOG traded up $0.21 during midday trading on Thursday, hitting $119.68. The stock had a trading volume of 1,120,770 shares, compared to its average volume of 3,636,792. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The business has a 50-day simple moving average of $120.01 and a two-hundred day simple moving average of $119.64. The firm has a market cap of $65.35 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 9.02 and a beta of 0.80. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. As a group, equities analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $1.02 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio is 37.90%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Piper Sandler reduced their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada cut their price objective 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. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources has an average rating of "Moderate Buy" and an average target price of $140.71.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company's stock.

About EOG Resources

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.