Teacher Retirement System of Texas Trims Stock Position in EOG Resources, Inc. $EOG

Key Points

• Teacher Retirement System of Texas cut its stake in EOG by 39.3% in the fourth quarter, selling 82,076 shares and leaving 126,609 shares valued at $13,295,000.
• EOG beat quarterly estimates with $2.27 EPS vs. $2.20 expected and $5.64B revenue, and announced a quarterly dividend of $1.02 (annualized $4.08) for a ~3.1% yield.
• Analyst views are mixed: the consensus rating is "Hold" with an average price target of $153.68, though recent firm targets range roughly from $134 to $185 with some upgrades to Buy/Strong-Buy.

Teacher Retirement System of Texas lessened its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 39.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,609 shares of the energy exploration company's stock after selling 82,076 shares during the quarter. Teacher Retirement System of Texas' holdings in EOG Resources were worth $13,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its position in EOG Resources by 7.2% during the third quarter. Hemington Wealth Management now owns 1,383 shares of the energy exploration company's stock valued at $155,000 after buying an additional 93 shares during the period. Bollard Group LLC grew its position in EOG Resources by 0.8% during the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock valued at $1,317,000 after buying an additional 93 shares during the period. apricus wealth LLC grew its position in EOG Resources by 5.0% during the third quarter. apricus wealth LLC now owns 2,002 shares of the energy exploration company's stock valued at $224,000 after buying an additional 95 shares during the period. Sowell Financial Services LLC grew its position in EOG Resources by 1.6% during the third quarter. Sowell Financial Services LLC now owns 6,234 shares of the energy exploration company's stock valued at $699,000 after buying an additional 96 shares during the period. Finally, Hardy Reed LLC grew its position in EOG Resources by 4.5% during the third quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company's stock valued at $254,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Down 0.6%

Shares of NYSE EOG opened at $133.09 on Friday. The company's 50-day simple moving average is $133.68 and its 200-day simple moving average is $116.86. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The firm has a market cap of $71.30 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 2.67 and a beta of 0.32. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the business earned $2.74 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts predict that EOG Resources, Inc. will post 13.45 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be given a $1.02 dividend. The ex-dividend date is Thursday, April 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. EOG Resources's dividend payout ratio (DPR) is 44.79%.

Analyst Ratings Changes

Several research firms recently commented on EOG. Barclays raised their price target on shares of EOG Resources from $133.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, March 16th. Scotiabank raised their price target on shares of EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research report on Wednesday. Jefferies Financial Group raised their price target on shares of EOG Resources from $146.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Roth Mkm raised their price target on shares of EOG Resources from $110.00 to $134.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Finally, Raymond James Financial lifted their target price on shares of EOG Resources from $157.00 to $185.00 and gave the company a "strong-buy" rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $153.68.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the sale, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 18,230 shares of company stock worth $2,522,568. Company insiders own 0.14% of the company's stock.

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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