Royal Bank of Canada Sells 342,950 Shares of EOG Resources, Inc. $EOG

Royal Bank of Canada lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,774,748 shares of the energy exploration company’s stock after selling 342,950 shares during the period. Royal Bank of Canada’s holdings in EOG Resources were worth $545,715,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EOG. SJS Investment Consulting Inc. raised its position in EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 124 shares during the last quarter. Financial Life Planners acquired a new position in EOG Resources during the first quarter worth $30,000. Acumen Wealth Advisors LLC bought a new position in EOG Resources in the fourth quarter valued at $25,000. Prosperity Bancshares Inc bought a new position in EOG Resources in the fourth quarter valued at $26,000. Finally, Global Assets Advisory LLC acquired a new stake in EOG Resources in the 1st quarter valued at $37,000. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EOG. Scotiabank lifted their target price on EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. The Goldman Sachs Group decreased their target price on shares of EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets boosted their price objective on shares of EOG Resources from $140.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Finally, Stephens cut their target price on shares of EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $155.32.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $139.72 on Wednesday. The firm has a 50 day moving average of $136.61 and a 200-day moving average of $130.58. The stock has a market capitalization of $74.42 billion, a PE ratio of 13.75 and a beta of 0.25. 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, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $2.87 EPS. On average, equities research analysts predict that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources’s dividend payout ratio is currently 40.16%.

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.