Meritage Portfolio Management Sells 1,057 Shares of EOG Resources, Inc. (NYSE:EOG)

Meritage Portfolio Management cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,093 shares of the energy exploration company’s stock after selling 1,057 shares during the quarter. Meritage Portfolio Management’s holdings in EOG Resources were worth $9,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EOG. Silvercrest Asset Management Group LLC grew its holdings in EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company’s stock worth $101,256,000 after acquiring an additional 106,677 shares during the period. CWA Asset Management Group LLC boosted its position in shares of EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company’s stock valued at $2,609,000 after purchasing an additional 2,697 shares in the last quarter. Marble Harbor Investment Counsel LLC grew its stake in EOG Resources by 3.2% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 103,037 shares of the energy exploration company’s stock worth $12,630,000 after purchasing an additional 3,150 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company’s stock worth $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Signet Financial Management LLC increased its holdings in EOG Resources by 15.3% in the first quarter. Signet Financial Management LLC now owns 29,292 shares of the energy exploration company’s stock worth $3,756,000 after purchasing an additional 3,890 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 1.4%

NYSE:EOG opened at $122.94 on Thursday. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a 50-day moving average price of $115.33 and a two-hundred day moving average price of $121.24. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. The firm has a market cap of $67.10 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 9.74 and a beta of 0.76.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business posted $2.82 earnings per share. EOG Resources’s revenue was down 7.4% on a year-over-year basis. On average, equities analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal 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 issued a $1.02 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources’s payout ratio is 36.18%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EOG. Morgan Stanley set a $135.00 price target on EOG Resources and gave the stock an “equal weight” rating in a report on Monday, June 2nd. UBS Group restated a “buy” rating and issued a $140.00 price target (up from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Wells Fargo & Company reiterated an “overweight” rating on shares of EOG Resources in a report on Sunday, June 22nd. KeyCorp reduced their target price on EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Susquehanna dropped their price target on EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.48.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

EOG Resources 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.