VIRGINIA RETIREMENT SYSTEMS ET Al Sells 43,300 Shares of EOG Resources, Inc. $EOG

Key Points

• Virginia Retirement Systems cut its EOG Resources stake by 18% in the fourth quarter, selling 43,300 shares and leaving it with 197,600 shares worth about $20.75 million.
• EOG Resources reported strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion topping forecasts; revenue rose 22.1% year over year.
• Wall Street remains constructive but mixed on the stock, with a consensus rating of Moderate Buy and an average price target of $154.21, while several analysts recently raised targets or kept neutral ratings.

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,600 shares of the energy exploration company's stock after selling 43,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in EOG Resources were worth $20,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rockland Trust Co. increased its holdings in EOG Resources by 5.1% during the 3rd quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company's stock valued at $27,618,000 after purchasing an additional 11,965 shares during the period. Legal & General Group Plc increased its holdings in EOG Resources by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock valued at $380,562,000 after purchasing an additional 68,888 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in EOG Resources by 21.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company's stock valued at $7,380,000 after purchasing an additional 11,442 shares during the period. AlphaQuest LLC increased its holdings in EOG Resources by 1,413.5% during the 3rd quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company's stock valued at $2,863,000 after purchasing an additional 23,846 shares during the period. Finally, L2 Asset Management LLC increased its holdings in EOG Resources by 69.6% during the 3rd quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock valued at $2,170,000 after purchasing an additional 7,940 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EOG. KeyCorp lowered EOG Resources from an "overweight" rating to a "sector weight" rating in a research report on Friday, January 16th. Scotiabank increased their target price on EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. BMO Capital Markets increased their target price on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Sanford C. Bernstein set a $155.00 target price on EOG Resources and gave the stock a "market perform" rating in a research report on Monday. Finally, Mizuho increased their target price on EOG Resources from $147.00 to $149.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.21.

Insider Activity at EOG Resources

In related news, CFO Ann D. Janssen sold 4,161 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the sale, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,230 shares of company stock worth $2,522,568 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

EOG Resources Stock Performance

EOG Resources stock opened at $134.96 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $71.88 billion, a P/E ratio of 13.28, a PEG ratio of 1.67 and a beta of 0.27. The stock's 50 day moving average is $136.39 and its 200 day moving average is $119.06. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.87 EPS. On average, equities research analysts predict that EOG Resources, Inc. will post 14.76 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio is presently 40.16%.

Key EOG Resources News

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Goldman Sachs raised its price target on EOG Resources to $139 from $135 while keeping a neutral rating, signaling modest upside expectations and reinforcing investor interest in the stock. Goldman Sachs adjusts price target on EOG Resources to $139 from $135, maintains neutral rating
• Positive Sentiment: New articles from Zacks and MSN highlighted EOG as a top long-term momentum stock, which can attract momentum and growth investors looking for strong energy names. Why EOG Resources (EOG) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: EOG Resources announced it will present at the Bernstein Strategic Decisions Conference on May 27, keeping the company in front of investors but not changing fundamentals by itself. EOG Resources to Present at Upcoming Conference
• Neutral Sentiment: Broader energy-sector news, including APA’s earnings beat and SM Energy’s strong run, may be helping sentiment across oil and gas stocks, though these reports are not specific to EOG’s operations. APA Corporation Q1 Earnings Beat Estimates on Higher Oil Prices

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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