Pacer Advisors Inc. Trims Holdings in EOG Resources, Inc. $EOG

Key Points

• Pacer Advisors Inc. cut its EOG Resources stake by 27.9% in the fourth quarter, selling 783,544 shares and leaving it with about 2.03 million shares valued at roughly $212.7 million.
• Wall Street sentiment remains constructive on EOG Resources, with analysts issuing one Strong Buy, 13 Buy ratings, and 16 Hold ratings. The consensus target price is $156.32, and several firms recently raised their price targets.
• EOG reported strong quarterly results, beating estimates with EPS of $3.41 and revenue of $6.92 billion, while also announcing a quarterly dividend of $1.02 per share, implying a 3.1% yield.

Pacer Advisors Inc. cut its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,025,530 shares of the energy exploration company's stock after selling 783,544 shares during the period. Pacer Advisors Inc. owned about 0.37% of EOG Resources worth $212,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc grew its holdings in EOG Resources by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock valued at $380,562,000 after buying an additional 68,888 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in EOG Resources by 66.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company's stock valued at $2,073,000 after acquiring an additional 7,877 shares during the last quarter. L2 Asset Management LLC grew its holdings in EOG Resources by 69.6% during the 3rd quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock valued at $2,170,000 after purchasing an additional 7,940 shares during the last quarter. Alberta Investment Management Corp grew its stake in shares of EOG Resources by 254.5% during the third quarter. Alberta Investment Management Corp now owns 19,500 shares of the energy exploration company's stock valued at $2,186,000 after buying an additional 14,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in EOG Resources by 2.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company's stock valued at $123,451,000 after acquiring an additional 24,984 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler upped their target price on shares of EOG Resources from $144.00 to $147.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. BMO Capital Markets lifted their target price on EOG Resources from $140.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. DA Davidson lifted their price target on shares of EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Wells Fargo & Company set a $196.00 price target on EOG Resources and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada upped their target price on EOG Resources from $138.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.32.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were 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 approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

EOG Resources Price Performance

NYSE:EOG opened at $130.05 on Friday. The company has a 50 day moving average price of $136.14 and a 200-day moving average price of $124.71. The firm has a market cap of $69.27 billion, a price-to-earnings ratio of 12.80 and a beta of 0.25. 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 0.26, a current ratio of 1.72 and a quick ratio of 1.53.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.87 EPS. Equities research analysts forecast that EOG Resources, Inc. will post 16.63 EPS for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio is 40.16%.

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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