EOG Resources, Inc. (NYSE:EOG) Shares Sold by Iowa State Bank

Iowa State Bank cut its position in EOG Resources, Inc. (NYSE:EOG) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,149 shares of the energy exploration company’s stock after selling 1,541 shares during the quarter. Iowa State Bank’s holdings in EOG Resources were worth $3,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of EOG Resources during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its position in EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares during the period. Mainstream Capital Management LLC bought a new stake in EOG Resources during the 4th quarter valued at $25,000. Keystone Financial Group Inc. acquired a new position in EOG Resources during the 4th quarter worth $27,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of EOG Resources in the fourth quarter worth $28,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Down 1.2%

Shares of EOG opened at $108.54 on Friday. The business’s 50-day moving average price is $113.11 and its 200 day moving average price is $123.14. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $59.24 billion, a P/E ratio of 8.74, a P/E/G ratio of 3.58 and a beta of 0.78. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the company posted $2.82 earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, July 17th. EOG Resources’s payout ratio is 36.18%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction on 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. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EOG. Morgan Stanley lifted their price objective on shares of EOG Resources from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. KeyCorp decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Piper Sandler dropped their target price on EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada upgraded EOG Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Eleven 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.79.

About EOG Resources

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.