M&T Bank Corp Sells 9,561 Shares of EOG Resources, Inc. $EOG

Key Points

• M&T Bank Corp trimmed its stake in EOG by 1.8%, selling 9,561 shares and leaving 516,482 shares valued at about $54.24 million at the end of the quarter.
• EOG beat expectations — quarterly EPS was $2.27 vs. $2.20 expected and revenue was $5.64B vs. $5.36B, and the company pays a quarterly dividend of $1.02 (annualized $4.08, yield ~2.9%).
• Insider sales and analyst outlook: insiders sold 18,230 shares in the last 90 days, while analysts have raised targets and the consensus rating is "Moderate Buy" with a $153.68 price target.

M&T Bank Corp cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,482 shares of the energy exploration company's stock after selling 9,561 shares during the period. M&T Bank Corp owned about 0.10% of EOG Resources worth $54,236,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. JCIC Asset Management Inc. purchased a new position in EOG Resources in the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new position in EOG Resources in the fourth quarter valued at approximately $33,000. Physician Wealth Advisors Inc. lifted its stake in EOG Resources by 103.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company's stock valued at $35,000 after purchasing an additional 170 shares during the last quarter. Salomon & Ludwin LLC lifted 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 purchasing an additional 178 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in EOG Resources in the third quarter valued at approximately $37,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 0.1%

NYSE:EOG opened at $139.09 on Monday. The company has a market cap of $74.51 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.73 and a beta of 0.27. The stock's fifty day moving average price is $134.92 and its two-hundred day moving average price is $117.72. 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.

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. The firm had revenue of $5.64 billion for 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 quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.74 earnings per share. As a group, analysts expect that EOG Resources, Inc. will post 14.75 EPS for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, April 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. EOG Resources's dividend payout ratio is currently 44.79%.

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 stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the sale, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the 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 completion of the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 18,230 shares of company stock worth $2,522,568. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on EOG Resources from $115.00 to $125.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. UBS Group upped their price objective on EOG Resources from $141.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Scotiabank upped their price objective on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group upped their price objective on EOG Resources from $133.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Finally, Wolfe Research upped their price objective on EOG Resources from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.