Renasant Bank Sells 6,476 Shares of EOG Resources, Inc. $EOG

Renasant Bank reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 75.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Moneco Advisors LLC boosted its position in shares of EOG Resources by 24.2% in the third quarter. Moneco Advisors LLC now owns 2,651 shares of the energy exploration company’s stock valued at $365,000 after acquiring an additional 516 shares during the period. Keybank National Association OH grew its stake in shares of EOG Resources by 0.3% in 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 acquiring an additional 69 shares in the last quarter. Elevated Capital Advisors LLC acquired a new position in shares of EOG Resources in the third quarter valued at about $30,000. Cornerstone Wealth Management LLC increased its position in EOG Resources by 6.5% during the third quarter. Cornerstone Wealth Management LLC now owns 4,047 shares of the energy exploration company’s stock worth $557,000 after acquiring an additional 248 shares during the period. Finally, Leuthold Group LLC bought a new position in EOG Resources during the third quarter worth about $7,611,000. 89.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Susquehanna restated a “positive” rating and set a $196.00 target price (up from $187.00) on shares of EOG Resources in a research report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 target price on shares of EOG Resources in a report on Saturday, October 3rd. Scotiabank initiated coverage on shares of EOG Resources in a report on Wednesday, October 14th. They set a “sector perform” rating and a $144.00 target price on the stock. Finally, UBS Group lifted their price target on shares of EOG Resources from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $162.32.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Donaldson sold 7,336 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,317 shares of company stock valued at $7,823,480 over the last ninety days. 0.14% of the stock is owned by corporate insiders.

EOG Resources Stock Up 2.1%

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

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter last year, the business posted $2.71 EPS. The company’s revenue was up 46.2% compared to the same quarter last year. Equities analysts expect that EOG Resources, Inc. will post 17.72 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, January 29th. Investors of record on Friday, January 15th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.9%. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Friday, January 15th. EOG Resources’s payout ratio is 28.42%.

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.