RiverFront Investment Group LLC Has $16.42 Million Stock Position in EOG Resources, Inc. $EOG

Key Points

• RiverFront Investment Group trimmed its EOG Resources stake by 5.3% in the fourth quarter, leaving it with 156,332 shares valued at about $16.42 million.
• EOG Resources reported strong quarterly results, posting $3.41 EPS and $6.92 billion in revenue, both above estimates. Revenue rose 22.1% from a year earlier.
• Analysts remain moderately positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $154.21. EOG also announced a quarterly dividend of $1.02 per share, yielding about 2.9% annually.

RiverFront Investment Group LLC reduced its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,332 shares of the energy exploration company's stock after selling 8,727 shares during the period. RiverFront Investment Group LLC's holdings in EOG Resources were worth $16,416,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Rockland Trust Co. grew its stake in shares of EOG Resources by 5.1% in the 3rd quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company's stock worth $27,618,000 after buying an additional 11,965 shares during the last quarter. Legal & General Group Plc grew its stake in shares of EOG Resources by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after buying an additional 68,888 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of EOG Resources by 21.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company's stock worth $7,380,000 after buying an additional 11,442 shares during the last quarter. AlphaQuest LLC grew its stake in shares of EOG Resources by 1,413.5% in the 3rd quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company's stock worth $2,863,000 after buying an additional 23,846 shares during the last quarter. Finally, L2 Asset Management LLC grew its stake in shares of EOG Resources by 69.6% in the 3rd quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock worth $2,170,000 after buying an additional 7,940 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent research reports. Morgan Stanley upped their price target on EOG Resources from $128.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Citigroup cut their price target on EOG Resources from $150.00 to $142.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. 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. Stephens cut their price target on EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. Finally, BMO Capital Markets upped their price target on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.21.

EOG Resources Stock Performance

Shares of EOG opened at $140.29 on Monday. The business's fifty day simple moving average is $136.79 and its two-hundred day simple moving average is $119.50. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The company has a market cap of $74.72 billion, a price-to-earnings ratio of 13.81 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the business posted $2.87 EPS. The company's revenue was up 22.1% compared to the same quarter last year. Research analysts anticipate that EOG Resources, Inc. will post 14.83 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is currently 40.16%.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, 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 transaction of $856,523.36. Following the sale, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction on Thursday, March 19th. The shares were 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 represents a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,230 shares of company stock worth $2,522,568. Company insiders own 0.14% of the company's stock.

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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