Pictet Asset Management Holding SA Sells 27,060 Shares of EOG Resources, Inc. $EOG

Pictet Asset Management Holding SA cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 11.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,829 shares of the energy exploration company’s stock after selling 27,060 shares during the quarter. Pictet Asset Management Holding SA’s holdings in EOG Resources were worth $28,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Acumen Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $25,000. Prosperity Bancshares Inc bought a new stake in shares of EOG Resources during the fourth quarter valued at approximately $26,000. Nemes Rush Group LLC acquired a new position in shares of EOG Resources in the fourth quarter valued at $30,000. Gen Wealth Partners Inc acquired a new position in shares of EOG Resources in the fourth quarter valued at $30,000. Finally, Olistico Wealth LLC bought a new position in EOG Resources in the fourth quarter worth $33,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $128.58 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The business’s fifty day moving average price is $135.79 and its two-hundred day moving average price is $126.08. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The stock has a market capitalization of $68.49 billion, a price-to-earnings ratio of 12.66 and a beta of 0.25.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period last year, the business earned $2.87 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that EOG Resources, Inc. will post 16.31 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s dividend payout ratio (DPR) is currently 40.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EOG shares. Raymond James Financial decreased their price target on shares of EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a research note on Monday, June 22nd. Susquehanna raised their price objective on shares of EOG Resources from $144.00 to $162.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Piper Sandler lifted their target price on shares of EOG Resources from $144.00 to $147.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Williams Trading set a $177.00 target price on shares of EOG Resources in a research note on Monday, April 20th. Finally, DA Davidson increased their price target on shares of EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.75.

EOG Resources Company Profile

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.