SouthState Corp Sells 136 Shares of EOG Resources, Inc. (NYSE:EOG)

SouthState Corp lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,859 shares of the energy exploration company’s stock after selling 136 shares during the period. SouthState Corp’s holdings in EOG Resources were worth $1,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors grew its position in EOG Resources by 59.2% in the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of EOG Resources by 26.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock worth $598,475,000 after purchasing an additional 1,029,727 shares in the last quarter. Capital International Investors raised its holdings in shares of EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after buying an additional 766,056 shares in the last quarter. Capital Research Global Investors boosted its stake in EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after buying an additional 373,365 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of EOG Resources by 67.3% during the first quarter. Canada Pension Plan Investment Board now owns 843,682 shares of the energy exploration company’s stock worth $107,856,000 after acquiring an additional 339,480 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG stock traded down $0.16 during mid-day trading on Thursday, reaching $122.62. 849,959 shares of the company’s stock traded hands, compared to its average volume of 3,124,716. The firm has a market capitalization of $70.47 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 3.22 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The firm has a 50 day moving average price of $126.84 and a two-hundred day moving average price of $125.98. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.49 EPS. On average, research analysts forecast that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analyst Weigh In

EOG has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $147.00 price target on shares of EOG Resources in a research note on Wednesday, July 10th. Scotiabank dropped their target price on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Bank of America reaffirmed a “buy” rating and issued a $151.00 price target on shares of EOG Resources in a research note on Friday, June 14th. Mizuho increased their price objective on EOG Resources from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Citigroup increased their price target on shares of EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $143.95.

Insider Buying and Selling

In other news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction on Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

EOG Resources Company 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.