Advisory Alpha LLC Decreases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Advisory Alpha LLC cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 27.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,850 shares of the energy exploration company’s stock after selling 699 shares during the quarter. Advisory Alpha LLC’s holdings in EOG Resources were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in EOG Resources in the fourth quarter valued at about $25,000. Y.D. More Investments Ltd raised its stake in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 121 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources in the fourth quarter worth about $25,000. Keystone Financial Group Inc. purchased a new position in shares of EOG Resources in the fourth quarter worth about $27,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of EOG Resources in the fourth quarter worth about $28,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Down 1.2%

Shares of EOG opened at $108.54 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The stock has a market capitalization of $59.24 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 3.58 and a beta of 0.78. The stock has a 50 day moving average price of $113.11 and a 200 day moving average price of $123.06.

EOG Resources (NYSE:EOG) last issued its quarterly 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 return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be issued a $0.975 dividend. 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 currently 36.18%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EOG. Morgan Stanley raised their price objective on EOG Resources from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Piper Sandler decreased their price target on EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Raymond James reissued a “strong-buy” rating on shares of EOG Resources in a report on Tuesday, May 20th. KeyCorp decreased their price target on EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, Barclays decreased their price target on EOG Resources from $140.00 to $137.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.79.

Insider Buying and Selling at EOG Resources

In other EOG Resources 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 value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company 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.