M&T Bank Corp Sells 7,451 Shares of EOG Resources, Inc. $EOG

M&T Bank Corp reduced its position in EOG Resources, Inc. (NYSE:EOG) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 546,464 shares of the energy exploration company’s stock after selling 7,451 shares during the quarter. M&T Bank Corp’s holdings in EOG Resources were worth $65,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. StrongBox Wealth LLC boosted its position in shares of EOG Resources by 1.9% during the 2nd quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company’s stock worth $576,000 after acquiring an additional 88 shares in the last quarter. ORG Partners LLC lifted its stake in EOG Resources by 45.1% during the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock worth $34,000 after purchasing an additional 88 shares during the last quarter. Ameriflex Group Inc. lifted its stake in EOG Resources by 31.6% during the second quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company’s stock worth $46,000 after purchasing an additional 91 shares during the last quarter. Granite Harbor Advisors Inc. boosted its holdings in shares of EOG Resources by 3.2% in the 1st quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company’s stock valued at $389,000 after purchasing an additional 94 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its stake in shares of EOG Resources by 2.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 5,032 shares of the energy exploration company’s stock valued at $610,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EOG. Melius started coverage on EOG Resources in a research report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price objective for the company. Siebert Williams Shank lowered their target price on EOG Resources from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Roth Capital dropped their target price on shares of EOG Resources from $126.00 to $114.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. UBS Group lifted their price target on shares of EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Wolfe Research lowered their price objective on shares of EOG Resources from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $140.33.

EOG Resources Stock Up 1.6%

Shares of NYSE EOG opened at $109.56 on Tuesday. The company has a 50 day simple moving average of $108.62 and a 200 day simple moving average of $115.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The firm has a market cap of $59.45 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 8.20 and a beta of 0.72.

EOG Resources (NYSE:EOG) last posted its earnings results 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. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.89 EPS. On average, research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, January 16th. EOG Resources’s dividend payout ratio is presently 40.64%.

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.