SevenBridge Financial Group LLC Sells 17,814 Shares of EOG Resources, Inc. $EOG

SevenBridge Financial Group LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 65.9% in the first quarter, HoldingsChannel reports. The fund owned 9,228 shares of the energy exploration company’s stock after selling 17,814 shares during the period. SevenBridge Financial Group LLC’s holdings in EOG Resources were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in EOG Resources by 24.2% during the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the last quarter. First Trust Advisors LP increased its stake in EOG Resources by 70.5% in the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock valued at $312,711,000 after buying an additional 1,231,366 shares during the last quarter. Marshall Wace LLP lifted its position in EOG Resources by 474.7% during the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock worth $138,430,000 after buying an additional 1,088,867 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock worth $490,394,000 after buying an additional 901,897 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock valued at $6,156,495,000 after acquiring an additional 782,426 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EOG. BMO Capital Markets lifted their target price on EOG Resources from $140.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Capital One Financial decreased their price target on EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group boosted their price target on EOG Resources from $135.00 to $139.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Scotiabank increased their price objective on EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, UBS Group raised their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and an average price target of $155.86.

EOG Resources Stock Performance

EOG opened at $132.05 on Tuesday. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The stock has a market cap of $70.33 billion, a price-to-earnings ratio of 13.00 and a beta of 0.25. The business has a 50 day moving average of $135.78 and a 200-day moving average of $125.81. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last posted its earnings results 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. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.87 EPS. On average, equities research analysts expect that EOG Resources, Inc. will post 16.64 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s payout ratio is 40.16%.

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.