Procyon Advisors LLC Sells 3,903 Shares of EOG Resources, Inc. $EOG

Procyon Advisors LLC cut its position in EOG Resources, Inc. (NYSE:EOG) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,639 shares of the energy exploration company’s stock after selling 3,903 shares during the period. Procyon Advisors LLC’s holdings in EOG Resources were worth $3,996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 4th quarter valued at $25,000. SJS Investment Consulting Inc. lifted its holdings in EOG Resources by 225.5% during the first 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 in the last quarter. Prosperity Bancshares Inc bought a new position in EOG Resources during the fourth quarter worth about $26,000. Nemes Rush Group LLC acquired a new position in EOG Resources in the fourth quarter valued at about $30,000. Finally, Financial Life Planners acquired a new position in EOG Resources in the first quarter valued at about $30,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $134.03 on Monday. 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 firm has a market cap of $71.39 billion, a price-to-earnings ratio of 13.19 and a beta of 0.25. The stock’s 50-day moving average is $135.59 and its 200-day moving average is $127.50. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the company earned $2.87 earnings per share. EOG Resources’s quarterly revenue was up 22.1% on a year-over-year basis. Equities analysts predict that EOG Resources, Inc. will post 16.19 earnings per share 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. Stockholders of record on Friday, July 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. 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

Several brokerages have issued reports on EOG. The Goldman Sachs Group lowered their price target on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Susquehanna lifted their price objective on EOG Resources from $144.00 to $162.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Roth Capital reiterated a “neutral” rating and issued a $136.00 price objective on shares of EOG Resources in a research report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Finally, Scotiabank raised their target price on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.04.

EOG Resources 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.