NewEdge Advisors LLC Cuts Stock Holdings in EOG Resources, Inc. $EOG

NewEdge Advisors LLC trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG) by 16.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,664 shares of the energy exploration company’s stock after selling 9,517 shares during the quarter. NewEdge Advisors LLC’s holdings in EOG Resources were worth $7,035,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new position in EOG Resources during the fourth quarter worth approximately $25,000. SJS Investment Consulting Inc. raised its holdings in shares of EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Prosperity Bancshares Inc acquired a new position in shares of EOG Resources during the 4th quarter valued at about $26,000. Nemes Rush Group LLC acquired a new position in shares of EOG Resources during the 4th quarter valued at about $30,000. Finally, Financial Life Planners purchased a new stake in shares of EOG Resources in the first quarter valued at about $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Down 0.3%

Shares of EOG Resources stock opened at $145.56 on Friday. The stock has a market cap of $77.53 billion, a price-to-earnings ratio of 14.33 and a beta of 0.25. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The company has a fifty day simple moving average of $136.81 and a 200-day simple moving average of $131.15. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.87 EPS. On average, equities analysts forecast that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. EOG Resources’s payout ratio is 40.16%.

Wall Street Analyst Weigh In

EOG has been the subject of several recent analyst reports. Stephens cut their price objective on shares of EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. DA Davidson boosted their target price on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of EOG Resources from $138.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Susquehanna restated a “positive” rating and issued a $170.00 price objective (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group cut their price objective on EOG Resources from $139.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.32.

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.