Pacer Advisors Inc. Has $507.32 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Pacer Advisors Inc. sold 513,112 shares of EOG Resources, reducing its holdings by 11.5% during Q1, now owning approximately 3,956,030 shares.
• The company has declared a quarterly dividend of $1.02 per share, marking an increase from the previous dividend of $0.98 and representing a 3.42% dividend yield.
• Brokerages have adjusted their price targets for EOG Resources, with a consensus target price now set at $140.62 and a general rating of "Moderate Buy" among analysts.

Pacer Advisors Inc. lowered its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 11.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,956,030 shares of the energy exploration company's stock after selling 513,112 shares during the period. EOG Resources makes up about 1.2% of Pacer Advisors Inc.'s investment portfolio, making the stock its 14th largest position. Pacer Advisors Inc. owned approximately 0.72% of EOG Resources worth $507,321,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors raised its stake in shares of EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company's stock valued at $30,000 after purchasing an additional 208 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of EOG Resources in the first quarter worth $34,000. Ameriflex Group Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth $36,000. 10Elms LLP bought a new stake in shares of EOG Resources in the fourth quarter worth $44,000. Finally, Hanson & Doremus Investment Management bought a new stake in shares of EOG Resources in the first quarter worth $51,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

EOG stock traded down $0.50 during trading on Tuesday, hitting $121.15. The company had a trading volume of 674,733 shares, compared to its average volume of 3,681,741. The firm has a market capitalization of $66.12 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 9.10 and a beta of 0.76. The business has a 50 day moving average of $118.23 and a 200 day moving average of $120.86. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. The company's quarterly revenue was down 7.4% compared to the same quarter last year. As a group, research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date is Friday, October 17th. 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 3.37%. EOG Resources's payout ratio is 36.18%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages recently issued reports on EOG. Mizuho dropped their price target on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Barclays lifted their price target on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Piper Sandler dropped their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. KeyCorp decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.62.

EOG Resources Company 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.