Wedbush Securities Inc. Decreases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Wedbush Securities Inc. cut its position in EOG Resources, Inc. (NYSE:EOG) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,706 shares of the energy exploration company’s stock after selling 722 shares during the period. Wedbush Securities Inc.’s holdings in EOG Resources were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in EOG. Financial Life Planners bought a new position in EOG Resources in the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its holdings in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after acquiring an additional 121 shares during the period. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources in the fourth quarter valued at $25,000. Decker Retirement Planning Inc. purchased a new stake in EOG Resources during the 4th quarter worth about $27,000. Finally, Keystone Financial Group Inc. bought a new position in EOG Resources in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EOG shares. UBS Group lowered their price target on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Citigroup cut their price target on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Truist Financial upped their price target on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Morgan Stanley dropped their price objective on EOG Resources from $142.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Finally, Raymond James upped their target price on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average price target of $144.67.

EOG Resources Trading Down 7.9 %

Shares of EOG opened at $110.39 on Monday. EOG Resources, Inc. has a 1-year low of $106.23 and a 1-year high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $127.14 and its 200-day moving average price is $127.86. The firm has a market capitalization of $60.88 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 3.58 and a beta of 0.93.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a yield of 3.53%. EOG Resources’s dividend payout ratio (DPR) is 34.73%.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This represents a 7.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.