Stoneridge Investment Partners LLC Sells 2,720 Shares of EOG Resources, Inc. $EOG

Key Points

• Stoneridge Investment Partners LLC decreased its holdings in EOG Resources, Inc. by 35.5%, selling 2,720 shares and now owning 4,951 shares valued at approximately $635,000.
• EOG Resources recently increased its quarterly dividend to $1.02, translating to an annualized yield of 3.5%, from its previous dividend of $0.98.
• The company's earnings report indicated a quarterly EPS of $2.32, exceeding analyst expectations, despite a 9.1% decline in quarterly revenue compared to the same period last year.

Stoneridge Investment Partners LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 35.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,951 shares of the energy exploration company's stock after selling 2,720 shares during the quarter. Stoneridge Investment Partners LLC's holdings in EOG Resources were worth $635,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Hancock Whitney Corp grew its stake in shares of EOG Resources by 5.7% in the fourth quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after buying an additional 92 shares in the last quarter. Granite Harbor Advisors Inc. raised its position in EOG Resources by 3.2% during the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after acquiring an additional 94 shares in the last quarter. FSM Wealth Advisors LLC lifted its stake in EOG Resources by 6.2% in the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after acquiring an additional 95 shares during the last quarter. Sigma Planning Corp grew its position in shares of EOG Resources by 1.6% in the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after acquiring an additional 97 shares during the period. Finally, Bank of Jackson Hole Trust increased its position in EOG Resources by 1.6% during the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock worth $791,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EOG. Melius Research initiated coverage on shares of EOG Resources in a research note on Wednesday. They set a "buy" rating and a $173.00 target price for the company. Piper Sandler cut their price objective on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Raymond James Financial boosted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Barclays raised their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Finally, UBS Group lifted their target price on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.61.

EOG Resources Stock Performance

EOG Resources stock traded up $2.3950 during mid-day trading on Friday, reaching $120.9050. 2,245,946 shares of the company's stock were exchanged, compared to its average volume of 2,796,382. The business's fifty day simple moving average is $120.18 and its 200 day simple moving average is $119.15. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. 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 $66.01 billion, a PE ratio of 11.75, a P/E/G ratio of 9.05 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business's revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted $3.16 EPS. On average, sell-side analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. 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 3.4%. EOG Resources's dividend payout ratio is presently 37.90%.

Insider Buying and Selling at EOG Resources

In other 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 transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

About EOG Resources

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.