EOG Resources, Inc. $EOG Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC has reduced its position in EOG Resources by 37.6% during the 1st quarter, leaving them with 39,899 shares valued at approximately $5.12 million.
• Several institutional investors have increased their stakes in EOG, with Nuveen LLC acquiring a new stake valued at about $451.9 million and GAMMA Investing LLC increasing its stake by 14,784.1%.
• EOG Resources announced a quarterly dividend increase to $1.02 per share to be paid on October 31st, raising its annualized dividend to $4.08 with a yield of 3.4%.

SVB Wealth LLC trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,899 shares of the energy exploration company's stock after selling 24,032 shares during the quarter. SVB Wealth LLC's holdings in EOG Resources were worth $5,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new stake in shares of EOG Resources during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in EOG Resources in the 1st quarter worth approximately $34,000. Ameriflex Group Inc. purchased a new stake in EOG Resources during the 4th quarter worth approximately $36,000. 10Elms LLP acquired a new position in EOG Resources during the 4th quarter valued at approximately $44,000. Finally, Stone House Investment Management LLC purchased a new position in shares of EOG Resources in the first quarter worth $48,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Piper Sandler lowered their price target on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Jefferies Financial Group restated a "buy" rating and issued a $148.00 price objective (up from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Bank of America cut their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada reduced their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Raymond James Financial upped their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $143.61.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

EOG Resources Price Performance

Shares of EOG Resources stock traded up $0.34 during trading hours on Monday, reaching $121.45. The stock had a trading volume of 2,092,737 shares, compared to its average volume of 2,819,407. The stock's 50 day moving average is $120.14 and its 200 day moving average is $119.00. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The firm has a market capitalization of $66.31 billion, a PE ratio of 11.80, a PEG ratio of 9.25 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 analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter last year, the firm posted $3.16 EPS. The business's revenue was down 9.1% on a year-over-year basis. Equities analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm 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 dividend of $1.02 per share. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.4%. EOG Resources's dividend payout ratio is presently 37.90%.

EOG Resources Profile

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.