Payden & Rygel Lowers Position in EOG Resources, Inc. (NYSE:EOG)

Payden & Rygel trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,500 shares of the energy exploration company’s stock after selling 10,300 shares during the quarter. Payden & Rygel’s holdings in EOG Resources were worth $10,603,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EOG. Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after buying an additional 781,282 shares in the last quarter. Geode Capital Management LLC grew its position in shares of EOG Resources by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after acquiring an additional 234,067 shares during the period. Alliancebernstein L.P. increased its stake in shares of EOG Resources by 6.9% in the 4th quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock valued at $696,990,000 after purchasing an additional 365,115 shares in the last quarter. Franklin Resources Inc. raised its holdings in EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares during the period. Finally, Pacer Advisors Inc. boosted its position in EOG Resources by 5.0% during the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock worth $547,827,000 after purchasing an additional 214,497 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 7.9 %

Shares of NYSE:EOG opened at $110.39 on Friday. The business has a 50-day moving average price of $127.14 and a 200 day moving average price of $127.80. EOG Resources, Inc. has a 12-month low of $109.20 and a 12-month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $60.88 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 3.58 and a beta of 0.93.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. Sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.53%. EOG Resources’s dividend payout ratio is currently 34.73%.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the transaction, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. The trade was a 7.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the subject of several research analyst reports. Truist Financial upped their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Barclays dropped their target price on shares of EOG Resources from $146.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Piper Sandler reduced their price target on shares of EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley cut their price objective on EOG Resources from $142.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus target price of $144.67.

About EOG Resources

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.