Strategic Global Advisors LLC Sells 23,296 Shares of EOG Resources, Inc. $EOG

Key Points

• Strategic Global Advisors LLC cut its EOG Resources stake by 61.4% in the fourth quarter, selling 23,296 shares and ending with 14,640 shares valued at about $1.54 million.
• EOG’s latest quarterly results topped expectations, with EPS of $3.41 versus $3.23 expected and revenue of $6.92 billion, up 22.1% year over year.
• The company declared a quarterly dividend of $1.02 per share payable July 31, implying an annualized yield of about 3.0%; analysts currently rate the stock Moderate Buy with an average price target of $156.32.

Strategic Global Advisors LLC cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 61.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,640 shares of the energy exploration company's stock after selling 23,296 shares during the period. Strategic Global Advisors LLC's holdings in EOG Resources were worth $1,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Franklin Resources Inc. lifted its stake in EOG Resources by 24.2% during the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company's stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the last quarter. First Trust Advisors LP lifted its stake in EOG Resources by 70.5% during the fourth quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company's stock worth $312,711,000 after purchasing an additional 1,231,366 shares during the last quarter. Marshall Wace LLP lifted its stake in EOG Resources by 474.7% during the fourth quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company's stock worth $138,430,000 after purchasing an additional 1,088,867 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EOG Resources by 23.9% during the fourth quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company's stock worth $490,394,000 after purchasing an additional 901,897 shares during the last quarter. Finally, Capital World Investors lifted its stake in EOG Resources by 1.4% during the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock worth $6,156,495,000 after purchasing an additional 782,426 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on EOG. Roth Mkm restated a "neutral" rating and set a $136.00 target price on shares of EOG Resources in a research note on Wednesday, May 6th. Williams Trading set a $177.00 target price on EOG Resources in a research note on Monday, April 20th. Stephens cut their target price on EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. Citigroup restated a "neutral" rating and set a $147.00 target price (up from $142.00) on shares of EOG Resources in a research note on Wednesday, May 20th. Finally, Susquehanna upped their target price on EOG Resources from $144.00 to $162.00 and gave the stock a "positive" rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $156.32.

Insiders Place Their Bets

In other 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 value of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 completion of the transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

EOG Resources Stock Down 0.2%

Shares of EOG opened at $136.42 on Monday. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The stock has a market capitalization of $72.66 billion, a price-to-earnings ratio of 13.43 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The stock has a fifty day moving average of $137.04 and a 200-day moving average of $123.99.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the prior year, the company earned $2.87 EPS. EOG Resources's revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 16.63 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio is presently 40.16%.

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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