NewEdge Advisors LLC Trims Stock Position in EOG Resources, Inc. $EOG

NewEdge Advisors LLC cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 16.4% during the 1st quarter, Holdings Channel reports. The firm owned 48,664 shares of the energy exploration company’s stock after selling 9,517 shares during the period. NewEdge Advisors LLC’s holdings in EOG Resources were worth $7,035,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Twin Capital Management Inc. lifted its stake in shares of EOG Resources by 0.3% during the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company’s stock worth $3,467,000 after purchasing an additional 79 shares during the period. Hardy Reed LLC boosted its holdings in shares of EOG Resources by 3.8% in the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock valued at $325,000 after purchasing an additional 82 shares during the last quarter. Legacy Wealth Managment LLC ID boosted its holdings in shares of EOG Resources by 39.5% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 311 shares of the energy exploration company’s stock valued at $45,000 after purchasing an additional 88 shares during the last quarter. Fulton Bank N.A. raised its position in EOG Resources by 2.1% in the first quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company’s stock valued at $662,000 after purchasing an additional 93 shares during the period. Finally, Ethos Financial Group LLC boosted its holdings in EOG Resources by 2.5% in the 4th quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company’s stock worth $439,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Down 0.3%

EOG stock opened at $145.56 on Friday. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a market capitalization of $77.53 billion, a price-to-earnings ratio of 14.33 and a beta of 0.25. The firm’s 50-day moving average is $136.81 and its two-hundred day moving average is $131.15. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $2.87 earnings per share. On average, analysts forecast that EOG Resources, Inc. will post 16.16 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources’s payout ratio is 40.16%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wolfe Research lifted their target price on EOG Resources from $152.00 to $154.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. The Goldman Sachs Group decreased their target price on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Susquehanna reiterated a “positive” rating and set a $170.00 price objective (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Finally, Raymond James Financial cut their target price on shares of EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.32.

EOG Resources 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.