EOG Resources, Inc. (NYSE:EOG) Position Cut by First United Bank & Trust

First United Bank & Trust reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,804 shares of the energy exploration company’s stock after selling 171 shares during the quarter. First United Bank & Trust’s holdings in EOG Resources were worth $616,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EOG. Mainstream Capital Management LLC acquired a new stake in EOG Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in EOG Resources in the fourth quarter worth about $28,000. Heritage Wealth Advisors lifted its holdings in EOG Resources by 562.2% in the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 208 shares during the period. Sierra Ocean LLC acquired a new stake in EOG Resources in the fourth quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in EOG Resources by 643.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 290 shares of the energy exploration company’s stock worth $36,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Trading Up 1.6%

Shares of NYSE:EOG opened at $119.80 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s 50-day moving average is $111.34 and its 200-day moving average is $122.03. The company has a market cap of $65.39 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.58 and a beta of 0.74. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. EOG Resources’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 earnings per share. Equities research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $1.02 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.41%. EOG Resources’s payout ratio is currently 36.18%.

Analyst Upgrades and Downgrades

EOG has been the subject of several research analyst reports. Mizuho reduced their price objective on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Susquehanna dropped their price target on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. KeyCorp dropped their target price on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Piper Sandler reduced their price objective on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their target price on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.58.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company 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.