1900 Wealth Management LLC Reduces Stock Position in EOG Resources, Inc. (NYSE:EOG)

1900 Wealth Management LLC lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 50.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,810 shares of the energy exploration company’s stock after selling 1,828 shares during the period. 1900 Wealth Management LLC’s holdings in EOG Resources were worth $231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Adams Natural Resources Fund Inc. grew its position in shares of EOG Resources by 16.6% in the 1st quarter. Adams Natural Resources Fund Inc. now owns 220,467 shares of the energy exploration company’s stock worth $28,185,000 after buying an additional 31,400 shares during the period. Conscious Wealth Investments LLC boosted its position in shares of EOG Resources by 3.9% in the 1st quarter. Conscious Wealth Investments LLC now owns 24,659 shares of the energy exploration company’s stock worth $3,278,000 after purchasing an additional 929 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of EOG Resources in the 1st quarter worth approximately $1,548,000. NBT Bank N A NY increased its position in EOG Resources by 3.8% during the 1st quarter. NBT Bank N A NY now owns 3,599 shares of the energy exploration company’s stock valued at $460,000 after buying an additional 131 shares in the last quarter. Finally, Spire Wealth Management raised its stake in EOG Resources by 1.4% during the first quarter. Spire Wealth Management now owns 7,468 shares of the energy exploration company’s stock valued at $955,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 7,802 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the completion of the transaction, the chief operating officer now directly owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Jeffrey R. Leitzell sold 7,802 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the sale, the chief operating officer now directly owns 39,054 shares in the company, valued at $5,079,753.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total value of $168,829.92. Following the transaction, the president now owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The disclosure for this sale can be found here. Insiders have sold a total of 11,783 shares of company stock worth $1,533,465 over the last quarter. Insiders own 0.20% of the company’s stock.

EOG Resources Stock Performance

EOG Resources stock traded down $2.86 during midday trading on Wednesday, hitting $126.04. The stock had a trading volume of 3,616,425 shares, compared to its average volume of 3,317,626. EOG Resources, Inc. has a 52-week low of $106.32 and a 52-week high of $139.67. The company has a market capitalization of $72.44 billion, a PE ratio of 9.96 and a beta of 1.38. The firm’s fifty day moving average is $130.71 and its two-hundred day moving average is $122.48. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $2.69 EPS. EOG Resources’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts forecast that EOG Resources, Inc. will post 12.19 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EOG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a research note on Tuesday, April 9th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, May 7th. Morgan Stanley raised their price target on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Truist Financial cut EOG Resources from a “buy” rating to a “hold” rating and lowered their price objective for the company from $163.00 to $136.00 in a research report on Thursday, May 16th. Finally, Scotiabank lowered EOG Resources from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the stock from $135.00 to $155.00 in a report on Thursday, April 11th. Fifteen investment 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $141.82.

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.