Van ECK Associates Corp Sells 24,348 Shares of EOG Resources, Inc. $EOG

Key Points

• Van ECK Associates cut its EOG Resources stake by 43%, selling 24,348 shares and retaining 32,311 shares valued at approximately $4.19 million. Institutional investors and hedge funds collectively own 89.91% of EOG.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates, while revenue rose 57.4% year over year to $8.62 billion. Analysts maintain a consensus “Hold” rating with an average price target of $157.04.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 2.8% yield; CEO Ezra Yacob also sold 35,942 shares in August.

Van ECK Associates Corp reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 43.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,311 shares of the energy exploration company's stock after selling 24,348 shares during the quarter. Van ECK Associates Corp's holdings in EOG Resources were worth $4,192,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan raised its holdings in EOG Resources by 2.6% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 83,116 shares of the energy exploration company's stock worth $10,783,000 after purchasing an additional 2,102 shares during the last quarter. Field & Main Bank bought a new stake in shares of EOG Resources in the 2nd quarter valued at $696,000. Prosperitas Financial LLC acquired a new stake in shares of EOG Resources during the second quarter worth $223,000. Wellington Management Group LLP increased its position in shares of EOG Resources by 8.4% during the second quarter. Wellington Management Group LLP now owns 1,775,310 shares of the energy exploration company's stock worth $230,311,000 after buying an additional 137,606 shares during the period. Finally, Archer Investment Corp bought a new position in EOG Resources during the second quarter worth $268,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ezra Yacob sold 35,942 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EOG. Truist Financial increased their price objective on shares of EOG Resources from $134.00 to $153.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Morgan Stanley set a $157.00 price objective on shares of EOG Resources and gave the company an "equal weight" rating in a report on Wednesday, August 19th. Mizuho set a $157.00 target price on shares of EOG Resources and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. The Goldman Sachs Group reiterated a "neutral" rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Finally, Citigroup reaffirmed a "neutral" rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat.com, EOG Resources has an average rating of "Hold" and a consensus price target of $157.04.

EOG Resources Stock Performance

Shares of EOG opened at $145.93 on Friday. The stock has a 50 day moving average of $141.24 and a 200 day moving average of $137.18. The company has a market capitalization of $76.54 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.55 and a beta of 0.26. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business's revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.32 earnings per share. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's payout ratio is 31.75%.

EOG Resources Company 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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