EOG Resources, Inc. (NYSE:EOG) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,569 shares of the energy exploration company’s stock after selling 430 shares during the period. Morse Asset Management Inc’s holdings in EOG Resources were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. Aveo Capital Partners LLC boosted its stake in EOG Resources by 4.8% in the 4th quarter. Aveo Capital Partners LLC now owns 2,194 shares of the energy exploration company’s stock worth $265,000 after purchasing an additional 101 shares in the last quarter. SageView Advisory Group LLC increased its position in shares of EOG Resources by 19.8% in the 4th quarter. SageView Advisory Group LLC now owns 10,166 shares of the energy exploration company’s stock valued at $1,187,000 after acquiring an additional 1,680 shares during the period. Team Hewins LLC purchased a new position in EOG Resources in the 4th quarter worth $230,000. Orion Portfolio Solutions LLC lifted its position in EOG Resources by 5.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 30,888 shares of the energy exploration company’s stock worth $3,638,000 after acquiring an additional 1,541 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of EOG Resources by 10.9% in the fourth quarter. Hsbc Holdings PLC now owns 1,222,339 shares of the energy exploration company’s stock valued at $147,886,000 after purchasing an additional 119,986 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Truist Financial cut their price objective on shares of EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Bank of America restated a “buy” rating and set a $151.00 target price on shares of EOG Resources in a research report on Friday, June 14th. Finally, Wolfe Research started coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus target price of $142.89.

EOG Resources Price Performance

EOG Resources stock opened at $126.03 on Monday. The stock has a market capitalization of $72.43 billion, a P/E ratio of 9.95, a P/E/G ratio of 2.95 and a beta of 1.28. The company’s fifty day moving average price is $125.65 and its 200 day moving average price is $126.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources (NYSE:EOG) last released its 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. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the previous year, the company earned $2.49 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that EOG Resources, Inc. will post 12.2 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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 issued a dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.89%. EOG Resources’s payout ratio is currently 28.75%.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders have sold a total of 21,537 shares of company stock worth $2,751,612 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources 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.