Congress Asset Management Co. Sells 2,428 Shares of EOG Resources, Inc. (NYSE:EOG)

Congress Asset Management Co. lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,405 shares of the energy exploration company’s stock after selling 2,428 shares during the quarter. Congress Asset Management Co.’s holdings in EOG Resources were worth $24,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors grew its stake in EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares during the period. Charles Schwab Investment Management Inc. grew its stake in EOG Resources by 4.5% in the 4th 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 purchasing an additional 781,282 shares during the period. Geode Capital Management LLC grew its stake in EOG Resources by 1.9% in 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 purchasing an additional 234,067 shares during the period. Northern Trust Corp grew its stake in EOG Resources by 2.9% in the 4th quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after purchasing an additional 159,216 shares during the period. Finally, Alliancebernstein L.P. grew its stake in 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 during the period. Institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup reduced their price objective on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. cut their price target on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Williams Trading set a $154.00 price target on EOG Resources in a research note on Wednesday, March 5th. UBS Group reiterated a “buy” rating and set a $140.00 price target (up previously from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Finally, Piper Sandler cut their price target on EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.58.

EOG Resources Stock Performance

NYSE:EOG opened at $113.93 on Friday. The business’s 50-day moving average price is $111.51 and its two-hundred day moving average price is $122.32. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a market cap of $62.18 billion, a P/E ratio of 9.17, a PEG ratio of 3.58 and a beta of 0.74. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the firm posted $2.82 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.58%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio (DPR) is presently 36.18%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

EOG Resources Company Profile

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.