M&T Bank Corp Lowers Stock Position in EOG Resources, Inc. $EOG

Key Points

• M&T Bank Corp slashed its stake in EOG by 94.2%, selling 495,375 shares in Q4 and now holds 30,668 shares valued at $3.22 million.
• EOG beat quarterly estimates with EPS $2.27 (vs. $2.20) and revenue $5.64B (vs. $5.36B), and declared a quarterly dividend of $1.02 ($4.08 annual, ~3.1% yield; ex-dividend Apr 16, payable Apr 30).
• Insiders have sold 18,230 shares (~$2.52M) in the past 90 days while owning 0.14% of shares; the Street consensus is a "Hold" with a $153.68 average price target and the company has a market cap of about $71.4B.

M&T Bank Corp lessened its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 94.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,668 shares of the energy exploration company's stock after selling 495,375 shares during the quarter. M&T Bank Corp's holdings in EOG Resources were worth $3,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock valued at $6,156,495,000 after purchasing an additional 782,426 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of EOG Resources by 0.5% during the 3rd quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company's stock worth $2,794,784,000 after acquiring an additional 122,486 shares in the last quarter. Northern Trust Corp boosted its stake in shares of EOG Resources by 0.8% during the 3rd quarter. Northern Trust Corp now owns 5,974,950 shares of the energy exploration company's stock worth $669,911,000 after acquiring an additional 49,987 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of EOG Resources by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,972,687 shares of the energy exploration company's stock worth $669,727,000 after acquiring an additional 344,291 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of EOG Resources by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 5,186,343 shares of the energy exploration company's stock worth $581,493,000 after acquiring an additional 548,334 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Trading Up 0.1%

EOG stock opened at $133.32 on Tuesday. The company has a market cap of $71.42 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.65 and a beta of 0.32. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $133.93 and a 200-day simple moving average of $117.10. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The business's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.74 EPS. On average, equities research analysts expect that EOG Resources, Inc. will post 13.45 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, April 16th. EOG Resources's dividend payout ratio is presently 44.79%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's 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 completion of the sale, the chief operating officer directly owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the sale, the chief financial officer directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 18,230 shares of company stock valued at $2,522,568. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial assumed coverage on EOG Resources in a research note on Tuesday, March 24th. They set a "hold" rating and a $146.00 price target on the stock. The Goldman Sachs Group boosted their price target on EOG Resources from $133.00 to $135.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 21st. Barclays boosted their price target on EOG Resources from $133.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, March 16th. JPMorgan Chase & Co. boosted their price target on EOG Resources from $115.00 to $125.00 and gave the stock a "neutral" rating in a research note on Thursday, February 26th. Finally, Raymond James Financial boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of "Hold" and a consensus price target of $153.68.

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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