ING Groep NV Sells 85,618 Shares of EOG Resources, Inc. (NYSE:EOG)

ING Groep NV trimmed its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 56.6% during the first quarter, HoldingsChannel.com reports. The firm owned 65,719 shares of the energy exploration company’s stock after selling 85,618 shares during the quarter. ING Groep NV’s holdings in EOG Resources were worth $8,428,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Earned Wealth Advisors LLC bought a new stake in shares of EOG Resources during the 1st quarter worth $209,000. Marble Harbor Investment Counsel LLC lifted its holdings in shares of EOG Resources by 1.2% during the 1st quarter. Marble Harbor Investment Counsel LLC now owns 104,277 shares of the energy exploration company’s stock worth $13,372,000 after acquiring an additional 1,240 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of EOG Resources by 62.8% during the 1st quarter. NewEdge Wealth LLC now owns 238,735 shares of the energy exploration company’s stock worth $30,615,000 after acquiring an additional 92,108 shares during the last quarter. Argent Trust Co lifted its holdings in shares of EOG Resources by 13.6% during the 1st quarter. Argent Trust Co now owns 6,964 shares of the energy exploration company’s stock worth $893,000 after acquiring an additional 833 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of EOG Resources by 7.7% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 1,400 shares of the energy exploration company’s stock worth $180,000 after acquiring an additional 100 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Up 0.3%

EOG stock opened at $116.99 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a market capitalization of $63.85 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 8.96 and a beta of 0.80. The firm’s fifty day simple moving average is $119.10 and its two-hundred day simple moving average is $120.28.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. EOG Resources’s payout ratio is 36.18%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EOG has been the subject of a number of research analyst reports. Mizuho dropped their price objective on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Bank of America cut their price objective on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Susquehanna upped their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Finally, KeyCorp cut their price objective on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Twelve 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. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $140.62.

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.