EOG Resources, Inc. (NYSE:EOG) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 16.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,377 shares of the energy exploration company’s stock after selling 1,502 shares during the period. Gateway Investment Advisers LLC’s holdings in EOG Resources were worth $946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EOG. Mainstream Capital Management LLC acquired a new position in EOG Resources during the fourth quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in shares of EOG Resources in the fourth quarter worth about $28,000. Heritage Wealth Advisors raised its position in shares of EOG Resources by 562.2% in the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 208 shares during the period. Sierra Ocean LLC acquired a new position in shares of EOG Resources in the fourth quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of EOG Resources by 643.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 290 shares of the energy exploration company’s stock worth $36,000 after acquiring an additional 251 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. This represents a 7.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on EOG. Piper Sandler decreased their price objective on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. KeyCorp decreased their price objective on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company decreased their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Wall Street Zen downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Citigroup decreased their price objective on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and an average target price of $139.58.

EOG Resources Stock Up 2.6%

EOG stock opened at $113.93 on Monday. The stock has a market capitalization of $62.18 billion, a P/E ratio of 9.17, a P/E/G ratio of 3.58 and a beta of 0.74. The firm has a 50-day simple moving average of $111.51 and a 200-day simple moving average of $122.23. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the company earned $2.82 EPS. EOG Resources’s revenue was down 7.4% compared to the same quarter last year. Equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.58%. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio is currently 36.18%.

About EOG Resources

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.