Pinnacle Bancorp Inc. Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Pinnacle Bancorp Inc. lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 23.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,935 shares of the energy exploration company’s stock after selling 607 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in EOG Resources were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. 1ST Source Bank boosted its holdings in shares of EOG Resources by 1.5% during the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock valued at $656,000 after acquiring an additional 80 shares during the period. Penobscot Investment Management Company Inc. increased its stake in shares of EOG Resources by 2.0% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company’s stock valued at $498,000 after purchasing an additional 80 shares during the period. TD Private Client Wealth LLC grew its holdings in EOG Resources by 1.4% in the 4th quarter. TD Private Client Wealth LLC now owns 5,786 shares of the energy exploration company’s stock worth $709,000 after buying an additional 81 shares in the last quarter. Advisor OS LLC increased its position in EOG Resources by 3.1% in the 4th quarter. Advisor OS LLC now owns 2,751 shares of the energy exploration company’s stock valued at $337,000 after acquiring an additional 82 shares during the period. Finally, NBT Bank N A NY raised its stake in EOG Resources by 3.9% during the 4th quarter. NBT Bank N A NY now owns 2,411 shares of the energy exploration company’s stock valued at $296,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. 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 research note on Tuesday, April 22nd. UBS Group reiterated a “buy” rating and issued a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 price objective on shares of EOG Resources in a research note on Friday, June 20th. Finally, Raymond James Financial lifted their target price on EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a report on Monday, June 2nd. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.48.

EOG Resources Price Performance

NYSE EOG opened at $120.77 on Wednesday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The stock’s 50-day moving average is $114.05 and its two-hundred day moving average is $121.46. The firm has a market cap of $65.92 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 9.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. On average, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a $1.02 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, October 17th. EOG Resources’s dividend payout ratio (DPR) is currently 36.18%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction on Tuesday, April 1st. The shares were 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 of the company’s stock, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% 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.