EOG Resources, Inc. $EOG Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its position in shares of EOG Resources, Inc. (NYSE:EOG) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 211,695 shares of the energy exploration company’s stock after selling 17,182 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in EOG Resources were worth $29,163,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in EOG Resources in the second quarter worth about $5,905,587,000. Dimensional Fund Advisors LP grew its stake in shares of EOG Resources by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after purchasing an additional 54,091 shares during the period. Bank of New York Mellon Corp grew its stake in shares of EOG Resources by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock valued at $712,583,000 after purchasing an additional 259,015 shares during the period. Bank of America Corp DE bought a new stake in shares of EOG Resources during the 2nd quarter valued at about $551,321,000. Finally, First Trust Advisors LP increased its position in shares of EOG Resources by 15.7% during the 1st quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after purchasing an additional 468,090 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $151.61 on Wednesday. The firm has a fifty day moving average price of $149.54 and a 200-day moving average price of $138.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.90 and a quick ratio of 1.74. The stock has a market cap of $79.53 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.52 and a beta of 0.27. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $165.93.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42. EOG Resources had a net margin of 27.54% and a return on equity of 26.32%. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the previous year, the company earned $2.71 EPS. EOG Resources’s revenue for the quarter was up 46.2% on a year-over-year basis. Equities analysts anticipate that EOG Resources, Inc. will post 17.72 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, January 29th. Shareholders of record on Friday, January 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, January 15th. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s dividend payout ratio (DPR) is currently 28.42%.

Insider Buying and Selling at EOG Resources

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the transaction, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,317 shares of company stock valued at $7,823,480 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EOG. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price objective on shares of EOG Resources in a research note on Saturday, October 3rd. Stifel Nicolaus assumed coverage on shares of EOG Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $158.00 price objective on the stock. Citigroup restated a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. Truist Financial set a $166.00 target price on shares of EOG Resources and gave the company a “hold” rating in a research report on Friday. Finally, Zacks Research raised shares of EOG Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $162.32.

About EOG Resources

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.