Ontario Teachers Pension Plan Board Trims Holdings in EOG Resources, Inc. (NYSE:EOG)

Ontario Teachers Pension Plan Board cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,949 shares of the energy exploration company’s stock after selling 2,078 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in EOG Resources were worth $5,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EOG. SageView Advisory Group LLC increased its position in EOG Resources by 22.9% during the third quarter. SageView Advisory Group LLC now owns 8,486 shares of the energy exploration company’s stock worth $1,076,000 after purchasing an additional 1,582 shares during the last quarter. Larson Financial Group LLC boosted its holdings in EOG Resources by 309.7% in the third quarter. Larson Financial Group LLC now owns 889 shares of the energy exploration company’s stock valued at $113,000 after acquiring an additional 672 shares during the last quarter. MGO One Seven LLC increased its stake in EOG Resources by 4.2% during the third quarter. MGO One Seven LLC now owns 3,212 shares of the energy exploration company’s stock worth $407,000 after acquiring an additional 128 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of EOG Resources by 7.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 439,397 shares of the energy exploration company’s stock worth $55,698,000 after purchasing an additional 31,011 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in shares of EOG Resources by 3.5% in the 3rd quarter. Corient Private Wealth LLC now owns 333,980 shares of the energy exploration company’s stock valued at $42,337,000 after purchasing an additional 11,322 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EOG. Mizuho lifted their price target on shares of EOG Resources from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial cut shares of EOG Resources from a “buy” rating to a “hold” rating and decreased their price objective for the company from $163.00 to $136.00 in a research report on Thursday, May 16th. Scotiabank cut EOG Resources from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. TD Cowen lifted their price objective on EOG Resources from $130.00 to $144.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Barclays started coverage on EOG Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 target price for the company. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $141.82.

EOG Resources Price Performance

EOG stock traded down $2.85 on Wednesday, hitting $126.05. 3,616,385 shares of the company’s stock traded hands, compared to its average volume of 3,317,626. The stock has a market cap of $72.44 billion, a price-to-earnings ratio of 10.18 and a beta of 1.38. EOG Resources, Inc. has a 1-year low of $106.32 and a 1-year high of $139.67. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $130.64 and a 200-day moving average of $122.45.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the company posted $2.69 EPS. EOG Resources’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts forecast that EOG Resources, Inc. will post 12.19 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.89%. EOG Resources’s payout ratio is currently 28.75%.

Insider Transactions at EOG Resources

In other EOG Resources news, President Lloyd W. Helms, Jr. sold 1,296 shares of EOG Resources stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total transaction of $168,829.92. Following the completion of the sale, the president now owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, President Lloyd W. Helms, Jr. sold 1,296 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total transaction of $168,829.92. Following the transaction, the president now owns 161,109 shares in the company, valued at approximately $20,987,669.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 7,802 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the completion of the sale, the chief operating officer now directly owns 39,054 shares of the company’s stock, valued at approximately $5,079,753.78. The disclosure for this sale can be found here. Insiders sold a total of 11,783 shares of company stock valued at $1,533,465 over the last quarter. Company insiders own 0.20% of the company’s stock.

EOG Resources 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.