Morningstar Investment Management LLC Lowers Stake in EOG Resources, Inc. $EOG

Key Points

• Morningstar Investment Management cut its EOG Resources stake by 86.5% in Q4, selling 22,807 shares and leaving it with 3,553 shares valued at about $373,000.
• EOG reported strong quarterly results, with EPS of $3.41 versus the $3.23 consensus and revenue of $6.92 billion, up 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, implying an annualized payout of $4.08 and a 2.9% yield.

Morningstar Investment Management LLC lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 86.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,553 shares of the energy exploration company's stock after selling 22,807 shares during the period. Morningstar Investment Management LLC's holdings in EOG Resources were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EOG. Hantz Financial Services Inc. increased its position in shares of EOG Resources by 37.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,867 shares of the energy exploration company's stock worth $196,000 after purchasing an additional 510 shares in the last quarter. Mondrian Investment Partners LTD grew its stake in EOG Resources by 43.7% during the 4th quarter. Mondrian Investment Partners LTD now owns 7,820 shares of the energy exploration company's stock worth $821,000 after buying an additional 2,377 shares during the last quarter. Swedbank AB grew its stake in EOG Resources by 0.6% during the 4th quarter. Swedbank AB now owns 525,677 shares of the energy exploration company's stock worth $55,201,000 after buying an additional 2,904 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in EOG Resources during the 4th quarter worth $420,000. Finally, MQS Management LLC grew its stake in EOG Resources by 12.2% during the 4th quarter. MQS Management LLC now owns 8,389 shares of the energy exploration company's stock worth $881,000 after buying an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on EOG Resources from $135.00 to $139.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Mizuho boosted their target price on EOG Resources from $147.00 to $149.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Piper Sandler boosted their target price on EOG Resources from $144.00 to $147.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Raymond James Financial boosted their target price on EOG Resources from $157.00 to $185.00 and gave the stock a "strong-buy" rating in a research note on Friday, March 27th. Finally, DA Davidson boosted their target price on EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and a consensus target price of $155.64.

EOG Resources Price Performance

NYSE EOG opened at $141.43 on Tuesday. 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 stock's fifty day moving average price is $138.07 and its 200 day moving average price is $121.04. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a market cap of $75.33 billion, a price-to-earnings ratio of 13.92 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the prior year, the firm earned $2.87 EPS. The firm's revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts forecast that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's dividend payout ratio is presently 40.16%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares of the company's stock, valued at $13,234,924.40. This represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,230 shares of company stock worth $2,272,568. 0.14% of the stock is owned by insiders.

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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