Beck Mack & Oliver LLC Cuts Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Beck Mack & Oliver LLC reduced its stake in EOG Resources, Inc. (NYSE:EOG) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,760 shares of the energy exploration company’s stock after selling 225 shares during the period. Beck Mack & Oliver LLC’s holdings in EOG Resources were worth $338,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EOG. Capital World Investors raised its position in shares of EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after purchasing an additional 781,282 shares in the last quarter. Geode Capital Management LLC lifted its stake in EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock worth $1,541,282,000 after purchasing an additional 234,067 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of EOG Resources by 6.9% in the 4th quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after purchasing an additional 365,115 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EOG. Citigroup dropped their target price on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Morgan Stanley cut their price objective on shares of 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. Truist Financial lifted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Finally, Barclays reduced their price objective on EOG Resources from $146.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Moderate Buy” and a consensus target price of $144.19.

EOG Resources Trading Up 2.1 %

NYSE:EOG opened at $110.53 on Friday. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. 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 company has a 50-day moving average price of $122.29 and a 200-day moving average price of $126.45. The stock has a market cap of $60.96 billion, a price-to-earnings ratio of 8.90, a P/E/G 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. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Equities analysts predict 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 given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources’s dividend payout ratio is currently 34.73%.

EOG Resources Company Profile

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.