EOG Resources, Inc. $EOG Stock Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 30.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,990 shares of the energy exploration company’s stock after selling 9,841 shares during the period. Hohimer Wealth Management LLC’s holdings in EOG Resources were worth $3,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of EOG Resources in the second quarter worth about $5,905,587,000. Bank of New York Mellon Corp acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $654,899,000. Bank of America Corp DE acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $551,321,000. Deutsche Bank AG acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $251,102,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in EOG Resources by 357.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company’s stock worth $271,641,000 after purchasing an additional 1,541,140 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG opened at $147.79 on Monday. The business’s fifty day moving average price is $149.32 and its 200 day moving average price is $137.83. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $165.93. The stock has a market capitalization of $77.52 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 0.52 and a beta of 0.27. 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 (NYSE:EOG) last released its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.42. EOG Resources had a net margin of 27.54% and a return on equity of 26.32%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $7.26 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. Equities research analysts forecast that EOG Resources, Inc. will post 17.72 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, January 15th. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s payout ratio is 26.36%.

Key EOG Resources News

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Q3 results beat expectations: EOG reported earnings of $4.87 per share, versus the $4.45 consensus, and revenue of $8.55 billion, above estimates of $7.26 billion and up 46.2% year over year. Earnings per share rose from $2.71 a year earlier. Reuters article
• Positive Sentiment: Production and pricing supported performance: The company’s record production and stronger commodity prices helped drive profit growth and robust cash flow, reinforcing the quarter’s positive results. Zacks article
• Positive Sentiment: Dividend raised: EOG increased its quarterly dividend from $1.02 to $1.10 per share, about 7.8%, equivalent to $4.40 annually and a roughly 3% yield. The increase signals confidence in cash generation and adds to shareholder returns. EOG press release
• Neutral Sentiment: Barclays lifted its price target from $147 to $155, but maintained an “equal weight” rating, suggesting limited conviction that EOG will outperform despite the higher target. Barclays rating information

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EOG shares. Mizuho set a $165.00 target price on EOG Resources in a research report on Thursday, October 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Seaport Research Partners assumed coverage on shares of EOG Resources in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Roth Capital restated a “neutral” rating and issued a $138.00 price target on shares of EOG Resources in a research note on Wednesday, August 5th. Finally, UBS Group reaffirmed a “buy” rating and issued a $186.00 price target (up from $183.00) on shares of EOG Resources in a report on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.80.

Insider Activity

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

About EOG Resources

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.

Founded in 1985 as Enron Oil & Gas, the company became independent in 1999 and adopted the name EOG Resources.