Rakuten Investment Management Inc. Sells 22,713 Shares of EOG Resources, Inc. $EOG

Key Points

• Rakuten Investment Management cut its EOG Resources stake by 24.1% in the fourth quarter, selling 22,713 shares and leaving it with 71,522 shares valued at about $7.48 million.
• EOG Resources reported strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion, while revenue rose 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, implying a 3.1% annualized yield, as analysts currently rate the stock Moderate Buy with an average price target of $156.32.

Rakuten Investment Management Inc. reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,522 shares of the energy exploration company's stock after selling 22,713 shares during the period. Rakuten Investment Management Inc.'s holdings in EOG Resources were worth $7,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of 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 worth $6,156,495,000 after buying an additional 782,426 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of EOG Resources by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock worth $5,651,172,000 after buying an additional 446,341 shares during the last quarter. State Street Corp increased its holdings in shares of EOG Resources by 0.3% in the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock worth $3,209,365,000 after buying an additional 100,080 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of EOG Resources by 0.5% in 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 buying an additional 122,486 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of EOG Resources by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock worth $2,099,028,000 after buying an additional 371,548 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EOG shares. Scotiabank boosted their target price on shares of EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their target price on shares of EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Sanford C. Bernstein reduced their target price on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a report on Wednesday, May 20th. Zacks Research downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, DA Davidson boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $156.32.

EOG Resources Price Performance

EOG Resources stock opened at $132.00 on Wednesday. The stock has a market cap of $70.31 billion, a price-to-earnings ratio of 12.99 and a beta of 0.25. 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, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The firm has a 50-day moving average of $136.61 and a two-hundred day moving average of $124.36.

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

EOG Resources Dividend Announcement

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

Insider Activity

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the sale, the chief financial officer directly owned 100,246 shares of the company's stock, valued at $14,038,449.84. The trade was a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction dated 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 trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by insiders.

EOG Resources Profile

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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