EOG Resources, Inc. $EOG Stock: Renasant Bank Lowers Holdings

Renasant Bank decreased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 75.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,077 shares of the energy exploration company’s stock after selling 6,476 shares during the period. Renasant Bank’s holdings in EOG Resources were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Patrick M Sweeney & Associates Inc. increased its holdings in EOG Resources by 3.6% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,895 shares of the energy exploration company’s stock worth $261,000 after purchasing an additional 65 shares in the last quarter. Keybank National Association OH boosted its stake in shares of EOG Resources by 0.3% during the third quarter. Keybank National Association OH now owns 22,312 shares of the energy exploration company’s stock valued at $3,074,000 after purchasing an additional 69 shares in the last quarter. Summitry LLC boosted its stake in shares of EOG Resources by 1.5% during the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock valued at $699,000 after purchasing an additional 73 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its stake in shares of EOG Resources by 4.8% during the third quarter. Murphy Pohlad Asset Management LLC now owns 1,661 shares of the energy exploration company’s stock valued at $229,000 after purchasing an additional 76 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in shares of EOG Resources by 2.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 2,762 shares of the energy exploration company’s stock worth $381,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, COO Jeffrey Leitzell sold 9,039 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the transaction, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Yacob sold 35,942 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This trade represents a 12.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,317 shares of company stock worth $7,823,480 over the last quarter. Company insiders own 0.14% of the company’s stock.

EOG Resources Stock Up 2.1%

EOG Resources stock opened at $151.61 on Wednesday. The firm has a market cap of $79.53 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.52 and a beta of 0.27. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $165.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 1.90. The firm has a 50 day moving average price of $149.54 and a two-hundred day moving average price of $138.26.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $4.87 EPS 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 analyst estimates of $7.26 billion. During the same period in the prior year, the firm posted $2.71 EPS. The company’s quarterly revenue was up 46.2% on a year-over-year basis. Equities analysts predict that EOG Resources, Inc. will post 17.72 EPS for the current year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be paid a dividend of $1.10 per share. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 15th. EOG Resources’s payout ratio is 28.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EOG. UBS Group upped their price objective on EOG Resources from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Monday. Mizuho set a $165.00 target price on shares of EOG Resources in a research report on Thursday, October 15th. Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Truist Financial set a $166.00 target price on shares of EOG Resources and gave the stock a “hold” rating in a report on Friday. Finally, Scotiabank began coverage on shares of EOG Resources in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $144.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus target price of $162.32.

EOG Resources Profile

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.