Van ECK Associates Corp Reduces Holdings in EOG Resources, Inc. $EOG

Van ECK Associates Corp decreased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 43.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,311 shares of the energy exploration company’s stock after selling 24,348 shares during the quarter. Van ECK Associates Corp’s holdings in EOG Resources were worth $4,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new position in shares of EOG Resources in the fourth quarter worth about $25,000. SJS Investment Consulting Inc. lifted its stake in shares of EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources during the 4th quarter valued at approximately $26,000. Nemes Rush Group LLC bought a new position in EOG Resources in the 4th quarter worth approximately $30,000. Finally, Financial Life Planners bought a new position in EOG Resources in the 1st quarter worth approximately $30,000. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $183.00 target price on shares of EOG Resources in a report on Monday, August 3rd. DA Davidson raised their price target on EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein reduced their price target on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, May 20th. Freedom Capital cut EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Susquehanna restated a “positive” rating and issued a $170.00 target price (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $157.04.

EOG Resources Stock Down 2.0%

EOG stock opened at $145.93 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $141.24 and its 200 day moving average is $137.18. The stock has a market cap of $76.54 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.55 and a beta of 0.26. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $153.67.

EOG Resources (NYSE:EOG) last announced its earnings results 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 net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period last year, the firm posted $2.32 earnings per share. EOG Resources’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts predict that EOG Resources, Inc. will post 16.87 EPS for the current fiscal year.

EOG Resources Announces Dividend

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

Insider Transactions at EOG Resources

In related news, CEO Ezra Yacob sold 35,942 shares of the stock in a transaction 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 transaction, the chief executive officer owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

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.