EOG Resources, Inc. (NYSE:EOG) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank has a stock position of $202.54 million in EOG Resources, with a 1.7% reduction in its stake during the first quarter.
• EOG Resources has declared a quarterly dividend of $1.02 per share, increasing from the previous $0.98, representing an annualized yield of 3.5%.
• Analysts have a consensus rating of "Moderate Buy" on EOG Resources, with an average target price of $140.62.

Swiss National Bank cut its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,579,400 shares of the energy exploration company's stock after selling 26,900 shares during the period. Swiss National Bank owned approximately 0.29% of EOG Resources worth $202,542,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in EOG Resources during the first quarter valued at $26,000. Alpine Bank Wealth Management purchased a new stake in EOG Resources during the first quarter valued at $34,000. Ameriflex Group Inc. purchased a new stake in EOG Resources during the fourth quarter valued at $36,000. 10Elms LLP purchased a new stake in EOG Resources during the fourth quarter valued at $44,000. Finally, Hanson & Doremus Investment Management purchased a new stake in EOG Resources during the first quarter valued at $51,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America decreased their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Piper Sandler reduced their target price on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Royal Bank Of Canada reduced their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, Raymond James Financial increased their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and a consensus target price of $140.71.

EOG Resources Stock Up 0.9%

NYSE EOG traded up $1.04 during midday trading on Tuesday, hitting $117.88. 2,902,111 shares of the company traded hands, compared to its average volume of 3,657,719. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The company has a market cap of $64.36 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 8.90 and a beta of 0.80. The company's 50-day simple moving average is $119.74 and its 200-day simple moving average is $119.65. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same period last year, the business earned $3.16 EPS. The company's revenue was down 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is 37.90%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's 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 sale, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

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.