SevenBridge Financial Group LLC Has $1.23 Million Position in EOG Resources, Inc. $EOG

Key Points

• SevenBridge Financial Group sharply reduced its stake in EOG Resources by 65.9% in the first quarter, selling 17,814 shares and leaving it with 9,228 shares worth about $1.23 million.
• Wall Street sentiment on EOG remains mixed but generally constructive, with a Moderate Buy consensus and an average price target of $155.86, while several firms recently adjusted their targets and ratings.
• EOG reported better-than-expected quarterly results, including EPS of $3.41 versus $3.23 expected and revenue of $6.92 billion, and announced a quarterly dividend of $1.02 per share payable July 31.

SevenBridge Financial Group LLC cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 65.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,228 shares of the energy exploration company's stock after selling 17,814 shares during the quarter. SevenBridge Financial Group LLC's holdings in EOG Resources were worth $1,227,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bollard Group LLC boosted its position in shares of EOG Resources by 0.8% in the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock worth $1,317,000 after purchasing an additional 93 shares during the last quarter. CoreFirst Bank & Trust grew its stake in shares of EOG Resources by 18.5% during the third quarter. CoreFirst Bank & Trust now owns 640 shares of the energy exploration company's stock worth $72,000 after purchasing an additional 100 shares during the period. Ethos Financial Group LLC increased its holdings in EOG Resources by 2.5% in the fourth quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock valued at $439,000 after purchasing an additional 100 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in EOG Resources by 0.4% in the fourth quarter. Sumitomo Life Insurance Co. now owns 22,784 shares of the energy exploration company's stock valued at $2,393,000 after buying an additional 102 shares during the period. Finally, Intrua Financial LLC lifted its stake in EOG Resources by 2.2% in the first quarter. Intrua Financial LLC now owns 4,918 shares of the energy exploration company's stock valued at $711,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EOG shares. Morgan Stanley reduced their target price on EOG Resources from $160.00 to $156.00 and set an "equal weight" rating on the stock in a report on Friday. Citigroup reiterated a "neutral" rating and issued a $147.00 price target (up from $142.00) on shares of EOG Resources in a research report on Wednesday, May 20th. Wolfe Research lifted their price objective on shares of EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. BMO Capital Markets boosted their price objective on shares of EOG Resources from $140.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. Finally, Raymond James Financial lowered their target price on shares of EOG Resources from $186.00 to $176.00 and set a "strong-buy" rating for the company in a research note on Monday, June 22nd. One investment 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $155.86.

EOG Resources Stock Performance

Shares of EOG stock opened at $132.05 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The company's 50 day moving average price is $135.78 and its two-hundred day moving average price is $125.81. The company has a market capitalization of $70.33 billion, a P/E ratio of 13.00 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same quarter in the prior year, the company earned $2.87 earnings per share. The business's quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts expect that EOG Resources, Inc. will post 16.64 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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