Fifth Third Bancorp Cuts Holdings in EOG Resources, Inc. (NYSE:EOG)

Fifth Third Bancorp trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 234,810 shares of the energy exploration company’s stock after selling 15,695 shares during the period. Fifth Third Bancorp’s holdings in EOG Resources were worth $30,112,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EOG. Mainstream Capital Management LLC purchased a new stake in EOG Resources during the 4th quarter valued at $25,000. Lee Danner & Bass Inc. purchased a new stake in EOG Resources during the 4th quarter valued at $28,000. Heritage Wealth Advisors boosted its stake in EOG Resources by 562.2% during the 4th quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 208 shares during the last quarter. Sierra Ocean LLC purchased a new stake in EOG Resources during the 4th quarter valued at $32,000. Finally, Ameriflex Group Inc. purchased a new stake in EOG Resources during the 4th quarter valued at $36,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $120.55 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s fifty day moving average is $111.58 and its 200 day moving average is $121.95. The stock has a market cap of $65.79 billion, a P/E ratio of 9.71, a P/E/G ratio of 3.58 and a beta of 0.74. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.38%. EOG Resources’s dividend payout ratio (DPR) is currently 36.18%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EOG. Williams Trading set a $154.00 price target on EOG Resources in a research note on Wednesday, March 5th. Morgan Stanley set a $135.00 price target on EOG Resources and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Citigroup dropped their price target on EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Bank of America dropped their price target on EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Finally, Mizuho dropped their price target on EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and a consensus price target of $139.58.

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.