US Bancorp DE Reduces Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• US Bancorp DE has reduced its holdings in EOG Resources by 3.7%, now owning 231,601 shares valued at approximately $29.7 million.
• EOG Resources is set to increase its quarterly dividend to $1.02 per share, up from $0.98, representing an annualized dividend of $4.08 with a yield of 3.5%.
• Analysts have mixed ratings on EOG, with prices targets ranging from $130 to $161, reflecting an average rating of "Moderate Buy".

US Bancorp DE reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,601 shares of the energy exploration company's stock after selling 8,850 shares during the quarter. US Bancorp DE's holdings in EOG Resources were worth $29,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in EOG Resources during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new position in EOG Resources during the 1st quarter valued at about $34,000. Ameriflex Group Inc. purchased a new position in EOG Resources during the 4th quarter valued at about $36,000. 10Elms LLP purchased a new position in EOG Resources during the 4th quarter valued at about $44,000. Finally, Hanson & Doremus Investment Management purchased a new position in EOG Resources during the 1st quarter valued at about $51,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EOG shares. UBS Group reaffirmed a "buy" rating and set a $140.00 price target (up from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Raymond James Financial raised their price target on shares of 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 target on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Scotiabank raised shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $140.62.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources 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 sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

EOG Resources Trading Down 2.8%

NYSE EOG opened at $116.64 on Friday. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The company's 50 day moving average price is $118.96 and its 200 day moving average price is $120.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. The firm has a market capitalization of $63.66 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 8.96 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm posted $2.82 earnings per share. EOG Resources's revenue for the quarter was down 7.4% compared to the same quarter last year. On average, sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, October 17th. EOG Resources's payout ratio is 36.18%.

EOG Resources Company 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.

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