EOG Resources (NYSE:EOG) CEO Ezra Yacob Sells 35,942 Shares of Stock

Key Points

• CEO Ezra Yacob sold 35,942 EOG Resources shares at an average price of $152.10, generating approximately $5.47 million. His remaining direct ownership fell 12.91% to 242,451 shares.
• EOG shares traded down to $146.90, despite strong quarterly results: earnings per share reached $5.07, revenue totaled $8.62 billion, and revenue rose 57.4% year over year.
• The company declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 and a 2.8% yield. Analysts’ consensus rating is Hold, with an average price target of $156.22.

EOG Resources, Inc. (NYSE:EOG - Get Free Report) CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

EOG Resources Price Performance

Shares of EOG traded down $3.31 during trading hours on Tuesday, hitting $146.90. 2,307,119 shares of the stock were exchanged, compared to its average volume of 4,250,936. The stock's 50-day moving average price is $139.11 and its two-hundred day moving average price is $135.47. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $153.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The company has a market cap of $77.05 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.57 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter last year, the firm posted $2.32 EPS. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts expect that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

EOG has been the topic of a number of research reports. Sanford C. Bernstein decreased their target price on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 20th. Susquehanna reaffirmed a "positive" rating and issued a $170.00 price target (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of EOG Resources in a research report on Friday, August 7th. Truist Financial upped their target price on EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Finally, Stephens cut their target price on EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, EOG Resources has an average rating of "Hold" and a consensus target price of $156.22.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. lifted its stake in shares of EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Financial Life Planners purchased a new stake in EOG Resources in the 1st quarter valued at about $30,000. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources in the 4th quarter valued at about $25,000. Wedbush Fund Advisers LLC acquired a new position in EOG Resources in the second quarter valued at about $31,000. Finally, Prosperity Bancshares Inc acquired a new position in EOG Resources in the fourth quarter valued at about $26,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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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