EOG Resources, Inc. $EOG Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 12.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,309,138 shares of the energy exploration company’s stock after selling 185,588 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in EOG Resources were worth $180,347,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EOG. Mirae Asset Global Investments Co. Ltd. bought a new position in EOG Resources in the third quarter valued at $91,014,000. ProShare Advisors LLC lifted its position in EOG Resources by 13.4% during the 3rd quarter. ProShare Advisors LLC now owns 112,689 shares of the energy exploration company’s stock worth $15,524,000 after buying an additional 13,325 shares in the last quarter. Vise Technologies Inc. boosted its stake in shares of EOG Resources by 24.9% during the 3rd quarter. Vise Technologies Inc. now owns 48,583 shares of the energy exploration company’s stock worth $6,693,000 after buying an additional 9,682 shares during the last quarter. Cidel Asset Management Inc. boosted its stake in shares of EOG Resources by 2.7% during the 3rd quarter. Cidel Asset Management Inc. now owns 8,308 shares of the energy exploration company’s stock worth $1,145,000 after buying an additional 219 shares during the last quarter. Finally, Unison Advisors LLC boosted its stake in shares of EOG Resources by 0.8% during the 3rd quarter. Unison Advisors LLC now owns 31,234 shares of the energy exploration company’s stock worth $4,303,000 after buying an additional 233 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares in the company, valued at approximately $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the transaction, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. This represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EOG. Stifel Nicolaus began coverage on EOG Resources in a report on Thursday, September 10th. They set a “hold” rating and a $158.00 target price on the stock. Truist Financial raised their target price on shares of EOG Resources from $153.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. Susquehanna upped their price objective on EOG Resources from $170.00 to $187.00 and gave the company a “positive” rating in a research note on Tuesday, October 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $151.00 price objective (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Finally, Capital One Financial downgraded EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price for the company. in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $161.24.

EOG Resources Price Performance

EOG Resources stock opened at $165.58 on Monday. The company has a market capitalization of $86.85 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.58 and a beta of 0.36. 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, Inc. has a 12 month low of $101.59 and a 12 month high of $165.93. The stock’s 50 day moving average is $149.06 and its 200-day moving average is $136.76.

EOG Resources (NYSE:EOG) last released its quarterly earnings results 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. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the firm posted $2.32 EPS. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts expect that EOG Resources, Inc. will post 17.70 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.5%. EOG Resources’s dividend payout ratio (DPR) is currently 31.75%.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.