Morse Asset Management Inc Lowers Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Morse Asset Management Inc lowered its holdings in EOG Resources, Inc. (NYSE:EOG) by 40.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,999 shares of the energy exploration company’s stock after selling 2,744 shares during the period. Morse Asset Management Inc’s holdings in EOG Resources were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Hyperion Capital Advisors LP grew its position in EOG Resources by 20.0% during the first quarter. Hyperion Capital Advisors LP now owns 2,400 shares of the energy exploration company’s stock valued at $307,000 after acquiring an additional 400 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of EOG Resources by 10.1% in the first quarter. Epoch Investment Partners Inc. now owns 14,132 shares of the energy exploration company’s stock worth $1,807,000 after buying an additional 1,295 shares during the period. LRI Investments LLC purchased a new stake in shares of EOG Resources in the first quarter worth about $124,000. 1832 Asset Management L.P. boosted its position in shares of EOG Resources by 48.0% in the first quarter. 1832 Asset Management L.P. now owns 108,748 shares of the energy exploration company’s stock worth $13,902,000 after buying an additional 35,286 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in shares of EOG Resources by 23.5% in the first quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock worth $268,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the transaction, the chief executive officer now directly owns 150,474 shares in the company, valued at $19,457,792.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ezra Y. Yacob sold 4,729 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the sale, the chief executive officer now owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $130.27, for a total transaction of $168,829.92. Following the completion of the sale, the president now owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock valued at $2,144,972 over the last three months. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG traded up $0.11 during mid-day trading on Friday, hitting $127.15. The stock had a trading volume of 2,214,477 shares, compared to its average volume of 2,510,345. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The stock has a market cap of $73.07 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.22 and a beta of 1.30. The company’s 50 day simple moving average is $124.73 and its 200 day simple moving average is $123.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 EPS for the quarter, topping the consensus estimate 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 period last year, the firm earned $2.69 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that EOG Resources, Inc. will post 12.13 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is currently 28.75%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial cut their price target on EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Sanford C. Bernstein cut their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Piper Sandler raised their price target on EOG Resources from $153.00 to $154.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Citigroup raised their target price on EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, May 7th. Fifteen 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, the company presently has an average rating of “Hold” and an average price target of $143.20.

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.