Cornerstone Advisors LLC Lowers Stake in EOG Resources, Inc. (NYSE:EOG)

Cornerstone Advisors LLC lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 29.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,500 shares of the energy exploration company’s stock after selling 3,100 shares during the period. Cornerstone Advisors LLC’s holdings in EOG Resources were worth $944,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in EOG Resources in the 2nd quarter valued at approximately $28,000. Gladius Capital Management LP purchased a new position in EOG Resources in the 2nd quarter valued at approximately $30,000. Sachetta LLC purchased a new position in EOG Resources in the 4th quarter valued at approximately $33,000. Finally, Triad Wealth Partners LLC purchased a new position in EOG Resources in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $147.00 price target on shares of EOG Resources in a research report on Wednesday, July 10th. Citigroup raised their price target on shares of EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Susquehanna decreased their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Piper Sandler decreased their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, UBS Group raised their price target on shares of EOG Resources from $166.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Fourteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Hold” and an average target price of $143.58.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $121.67 on Tuesday. The company’s fifty day moving average price is $125.85 and its 200 day moving average price is $126.39. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The firm has a market capitalization of $69.93 billion, a P/E ratio of 9.61, a P/E/G ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. EOG Resources’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. As a group, sell-side analysts predict that EOG Resources, Inc. will post 12.2 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.99%. EOG Resources’s dividend payout ratio is presently 28.75%.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,537 shares of company stock worth $2,751,612. 0.30% of the stock is owned by company insiders.

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.