SouthState Corp Sells 548 Shares of EOG Resources, Inc. $EOG

SouthState Corp lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,350 shares of the energy exploration company’s stock after selling 548 shares during the quarter. SouthState Corp’s holdings in EOG Resources were worth $1,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EOG. Nuveen LLC acquired a new stake in shares of EOG Resources during the 1st quarter worth $451,908,000. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in EOG Resources during the first quarter worth about $81,752,000. LSV Asset Management grew its stake in EOG Resources by 290.5% during the first quarter. LSV Asset Management now owns 687,446 shares of the energy exploration company’s stock worth $88,158,000 after buying an additional 511,418 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in EOG Resources during the first quarter worth about $52,273,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on EOG. KeyCorp dropped their target price on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. UBS Group boosted their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Wells Fargo & Company cut their target price on EOG Resources from $149.00 to $127.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Morgan Stanley decreased their price target on EOG Resources from $141.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lowered their price target on EOG Resources from $132.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Hold” and an average price target of $140.76.

EOG Resources Stock Down 0.2%

Shares of NYSE:EOG opened at $105.00 on Friday. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a market capitalization of $57.33 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 8.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The company has a fifty day moving average of $112.75 and a 200-day moving average of $115.59.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the company posted $2.89 EPS. EOG Resources’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.9%. EOG Resources’s dividend payout ratio is currently 39.65%.

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.