Farmers Trust Co. Boosts Position in EOG Resources, Inc. (NYSE:EOG)

Farmers Trust Co. grew its position in EOG Resources, Inc. (NYSE:EOG) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,494 shares of the energy exploration company’s stock after buying an additional 174 shares during the quarter. Farmers Trust Co.’s holdings in EOG Resources were worth $3,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riverview Trust Co acquired a new position in EOG Resources during the second quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $28,000. Gladius Capital Management LP purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $30,000. Triad Wealth Partners LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $35,000. Finally, Norwood Financial Corp acquired a new stake in EOG Resources during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays cut their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley decreased their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $147.00 price target on shares of EOG Resources in a report on Wednesday, July 10th. Wolfe Research started coverage on shares of EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average target price of $142.15.

EOG Resources Price Performance

EOG opened at $130.79 on Friday. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a 50 day moving average of $125.05 and a two-hundred day moving average of $126.85. The company has a market cap of $75.17 billion, a P/E ratio of 10.33, a P/E/G ratio of 3.27 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 (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion during 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 firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 EPS. On average, analysts expect that EOG Resources, Inc. will post 11.91 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.78%. 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, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on 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 completion of the sale, 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 document filed with the SEC, which is available through the SEC website. In other news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $2,751,612 in the last 90 days. 0.30% of the stock is owned by company insiders.

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.