Amalgamated Bank Reduces Position in EOG Resources, Inc. (NYSE:EOG)

Amalgamated Bank decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,473 shares of the energy exploration company’s stock after selling 6,588 shares during the quarter. Amalgamated Bank’s holdings in EOG Resources were worth $17,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EOG. Aveo Capital Partners LLC lifted its position in shares of EOG Resources by 4.8% during the fourth quarter. Aveo Capital Partners LLC now owns 2,194 shares of the energy exploration company’s stock worth $265,000 after purchasing an additional 101 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in EOG Resources by 14.7% during the 4th quarter. Natixis Advisors L.P. now owns 324,261 shares of the energy exploration company’s stock valued at $39,218,000 after buying an additional 41,469 shares in the last quarter. Mechanics Financial Corp lifted its holdings in EOG Resources by 9.6% during the 4th quarter. Mechanics Financial Corp now owns 5,693 shares of the energy exploration company’s stock valued at $689,000 after buying an additional 500 shares in the last quarter. LGT Group Foundation boosted its position in EOG Resources by 121.2% in the 4th quarter. LGT Group Foundation now owns 88,155 shares of the energy exploration company’s stock valued at $10,696,000 after buying an additional 48,302 shares during the period. Finally, Heritage Wealth Management LLC bought a new position in EOG Resources in the 4th quarter worth about $962,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

EOG Resources stock traded down $1.78 during mid-day trading on Friday, reaching $130.02. 5,660,186 shares of the company traded hands, compared to its average volume of 3,390,405. The firm’s fifty day moving average is $127.11 and its two-hundred day moving average is $122.60. The company has a market capitalization of $74.79 billion, a price-to-earnings ratio of 9.99 and a beta of 1.38. EOG Resources, Inc. has a fifty-two week low of $106.32 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.12. EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm earned $2.69 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts expect that EOG Resources, Inc. will post 12.14 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.80%. EOG Resources’s dividend payout ratio is presently 27.98%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial dropped their price objective on EOG Resources from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Barclays started coverage on EOG Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price target on the stock. Morgan Stanley upped their price objective on shares of EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Tuesday, April 9th. Finally, KeyCorp boosted their price target on shares of EOG Resources from $147.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $142.27.

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.