SVB Wealth LLC Decreases Stake in EOG Resources, Inc. $EOG

SVB Wealth LLC lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 30.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,218 shares of the energy exploration company’s stock after selling 4,523 shares during the period. SVB Wealth LLC’s holdings in EOG Resources were worth $1,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources during the 4th quarter valued at $25,000. Prosperity Bancshares Inc bought a new stake in shares of EOG Resources in the fourth quarter worth about $26,000. Gen Wealth Partners Inc bought a new position in EOG Resources during the 4th quarter valued at approximately $30,000. Nemes Rush Group LLC purchased a new stake in EOG Resources in the 4th quarter worth approximately $30,000. Finally, Olistico Wealth LLC bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $33,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 1.7%

Shares of NYSE EOG opened at $135.05 on Wednesday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The firm has a 50-day moving average of $135.85 and a 200 day moving average of $125.19. The stock has a market cap of $71.93 billion, a P/E ratio of 13.29 and a beta of 0.25.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the prior year, the company earned $2.87 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts expect that EOG Resources, Inc. will post 16.64 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources’s dividend payout ratio is presently 40.16%.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of research analyst reports. Weiss Ratings raised EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Piper Sandler raised their target price on shares of EOG Resources from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Morgan Stanley boosted their price target on shares of EOG Resources from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on shares of EOG Resources from $145.00 to $148.00 in a report on Thursday, May 7th. Finally, BMO Capital Markets upped their target price on EOG Resources from $140.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares of the company’s stock, valued at $13,234,924.40. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.