Northwestern Mutual Wealth Management Co. Reduces Position in EOG Resources, Inc. $EOG

Northwestern Mutual Wealth Management Co. trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 29.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,141 shares of the energy exploration company’s stock after selling 16,599 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in EOG Resources were worth $4,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EOG. Kiker Wealth Management LLC acquired a new stake in shares of EOG Resources in the 2nd quarter worth $627,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of EOG Resources by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,742 shares of the energy exploration company’s stock valued at $7,386,000 after purchasing an additional 5,156 shares during the period. Canada Pension Plan Investment Board increased its position in EOG Resources by 30.1% during the first quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock worth $25,107,000 after purchasing an additional 45,295 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its position in EOG Resources by 14.4% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 52,194 shares of the energy exploration company’s stock worth $6,243,000 after purchasing an additional 6,588 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in EOG Resources during the first quarter worth about $472,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 0.6%

Shares of NYSE EOG opened at $109.04 on Wednesday. The firm has a market cap of $59.17 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 8.31 and a beta of 0.49. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The business’s 50 day moving average is $108.48 and its two-hundred day moving average is $115.09.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.89 earnings per share. Research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, January 16th. EOG Resources’s payout ratio is currently 40.64%.

Wall Street Analyst Weigh In

EOG has been the subject of several analyst reports. Melius initiated coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price target for the company. Evercore ISI upped their price objective on EOG Resources from $141.00 to $149.00 and gave the company an “outperform” rating in a report on Monday, October 6th. UBS Group raised their target price on EOG Resources from $142.00 to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Wolfe Research reduced their target price on EOG Resources from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Finally, Piper Sandler decreased their price target on EOG Resources from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.33.

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.