Gradient Investments LLC Sells 399 Shares of EOG Resources, Inc. (NYSE:EOG)

Gradient Investments LLC reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 10.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,473 shares of the energy exploration company’s stock after selling 399 shares during the quarter. Gradient Investments LLC’s holdings in EOG Resources were worth $445,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Fragasso Financial Advisors Inc grew its stake in shares of EOG Resources by 382.5% during the 1st quarter. Fragasso Financial Advisors Inc now owns 19,142 shares of the energy exploration company’s stock worth $2,455,000 after acquiring an additional 15,175 shares in the last quarter. NBC Securities Inc. grew its stake in shares of EOG Resources by 180,300.0% in the first quarter. NBC Securities Inc. now owns 1,804 shares of the energy exploration company’s stock valued at $231,000 after buying an additional 1,803 shares in the last quarter. Enterprise Bank & Trust Co bought a new position in shares of EOG Resources in the first quarter valued at $230,000. Fiduciary Alliance LLC grew its stake in shares of EOG Resources by 9.1% in the first quarter. Fiduciary Alliance LLC now owns 6,226 shares of the energy exploration company’s stock valued at $798,000 after buying an additional 520 shares in the last quarter. Finally, Wright Investors Service Inc. grew its stake in shares of EOG Resources by 54.6% in the first quarter. Wright Investors Service Inc. now owns 8,817 shares of the energy exploration company’s stock valued at $1,131,000 after buying an additional 3,113 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EOG. Williams Trading set a $154.00 target price on shares of EOG Resources in a research note on Wednesday, March 5th. Mizuho decreased their target price on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Raymond James raised their target price on shares of EOG Resources from $148.00 to $158.00 and gave the company a “strong-buy” rating in a research note on Monday. Finally, Susquehanna reduced their price objective on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Eleven equities 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.63.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 47,732 shares of the company’s stock, valued at $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

EOG Resources Stock Up 2.5%

EOG opened at $111.25 on Tuesday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a market capitalization of $60.72 billion, a P/E ratio of 8.96, a P/E/G ratio of 3.58 and a beta of 0.78. The stock has a fifty day moving average of $112.76 and a 200-day moving average of $122.89.

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

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio (DPR) is currently 36.18%.

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.