Pekin Hardy Strauss Inc. Cuts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Pekin Hardy Strauss Inc. reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 27.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,386 shares of the energy exploration company's stock after selling 8,086 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in EOG Resources were worth $2,743,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. grew its position in shares of EOG Resources by 11.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 21,918 shares of the energy exploration company's stock worth $2,811,000 after buying an additional 2,209 shares during the period. Washington Trust Bank grew its position in shares of EOG Resources by 9.9% in the 1st quarter. Washington Trust Bank now owns 2,930 shares of the energy exploration company's stock worth $376,000 after buying an additional 265 shares during the period. TD Private Client Wealth LLC grew its position in shares of EOG Resources by 13.6% in the 1st quarter. TD Private Client Wealth LLC now owns 6,574 shares of the energy exploration company's stock worth $843,000 after buying an additional 788 shares during the period. Envestnet Asset Management Inc. grew its position in shares of EOG Resources by 5.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,172,913 shares of the energy exploration company's stock worth $278,654,000 after buying an additional 121,586 shares during the period. Finally, Penserra Capital Management LLC grew its position in shares of EOG Resources by 73.9% in the 1st quarter. Penserra Capital Management LLC now owns 2,561 shares of the energy exploration company's stock worth $328,000 after buying an additional 1,088 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

NYSE EOG traded down $3.38 on Monday, reaching $119.77. 3,691,877 shares of the stock were exchanged, compared to its average volume of 3,405,812. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The firm has a market capitalization of $65.37 billion, a PE ratio of 11.11, a PEG ratio of 9.94 and a beta of 0.76. The company's 50-day simple moving average is $115.78 and its two-hundred day simple moving average is $121.28. 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 released its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The company had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the business earned $2.82 EPS. The firm's revenue was down 7.4% compared to the same quarter last year. Analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on EOG. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Barclays upped their target price on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Mizuho dropped their price target on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Susquehanna dropped their price target on shares of EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.48.

EOG Resources 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.