NewEdge Wealth LLC Sells 99,853 Shares of EOG Resources, Inc. $EOG

NewEdge Wealth LLC cut its stake in EOG Resources, Inc. (NYSE:EOG) by 25.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 296,070 shares of the energy exploration company’s stock after selling 99,853 shares during the period. NewEdge Wealth LLC’s holdings in EOG Resources were worth $38,409,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Sivia Capital Partners LLC purchased a new position in shares of EOG Resources in the 2nd quarter valued at approximately $258,000. Quantbot Technologies LP purchased a new stake in EOG Resources in the second quarter worth $349,000. Gamco Investors INC. ET AL grew its stake in EOG Resources by 216.1% in the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock worth $785,000 after purchasing an additional 4,485 shares during the period. NewEdge Advisors LLC raised its holdings in EOG Resources by 2.0% in the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock worth $2,725,000 after purchasing an additional 444 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in EOG Resources by 4.4% in the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after purchasing an additional 15,250 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on EOG shares. DA Davidson raised their price objective on EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company reiterated an “overweight” rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. UBS Group lowered their price target on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Roth Capital reissued a “neutral” rating and set a $138.00 price objective on shares of EOG Resources in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of EOG Resources in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources has an average rating of “Hold” and a consensus target price of $155.41.

EOG Resources Price Performance

EOG opened at $149.54 on Thursday. The firm has a market cap of $78.44 billion, a PE ratio of 11.64 and a beta of 0.25. The stock has a 50-day moving average price of $138.10 and a 200-day moving average price of $134.59. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. EOG Resources’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 EPS. Sell-side analysts predict that EOG Resources, Inc. will post 16.43 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio is currently 31.75%.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand?alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.