Public Sector Pension Investment Board Reduces Stock Position in EOG Resources, Inc. (NYSE:EOG)

Public Sector Pension Investment Board cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 63.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,047 shares of the energy exploration company’s stock after selling 176,297 shares during the period. Public Sector Pension Investment Board’s holdings in EOG Resources were worth $12,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DRW Securities LLC bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $1,710,000. EverSource Wealth Advisors LLC raised its position in EOG Resources by 2.1% in the second quarter. EverSource Wealth Advisors LLC now owns 6,078 shares of the energy exploration company’s stock worth $771,000 after acquiring an additional 125 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of EOG Resources by 46.9% during the 2nd quarter. Fidelis Capital Partners LLC now owns 12,675 shares of the energy exploration company’s stock worth $1,561,000 after acquiring an additional 4,049 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of EOG Resources by 400.5% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,953 shares of the energy exploration company’s stock worth $372,000 after purchasing an additional 2,363 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in EOG Resources by 7.6% in the 2nd quarter. ProShare Advisors LLC now owns 111,102 shares of the energy exploration company’s stock worth $13,984,000 after purchasing an additional 7,873 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Price Performance

EOG opened at $127.74 on Tuesday. The business has a fifty day moving average of $125.55 and a 200 day moving average of $126.70. The stock has a market cap of $73.41 billion, a P/E ratio of 10.09, a PEG ratio of 2.95 and a beta of 1.28. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 earnings per share. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EOG. Royal Bank of Canada restated a “sector perform” rating and issued a $147.00 price target on shares of EOG Resources in a research report on Wednesday, July 10th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. UBS Group lowered their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Susquehanna cut their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Piper Sandler lowered their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Fourteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus price target of $142.89.

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.