SVB Wealth LLC Cuts Holdings in EOG Resources, Inc. (NYSE:EOG)

SVB Wealth LLC cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,770 shares of the energy exploration company’s stock after selling 2,841 shares during the quarter. SVB Wealth LLC’s holdings in EOG Resources were worth $8,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new position in EOG Resources during the fourth quarter worth about $5,443,000. Dai ichi Life Insurance Company Ltd boosted its stake in EOG Resources by 15.3% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 46,468 shares of the energy exploration company’s stock valued at $5,620,000 after acquiring an additional 6,154 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in EOG Resources by 2.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 991,055 shares of the energy exploration company’s stock valued at $119,868,000 after acquiring an additional 22,638 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in EOG Resources by 4.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 6,162 shares of the energy exploration company’s stock valued at $745,000 after acquiring an additional 275 shares during the last quarter. Finally, DRW Securities LLC boosted its stake in EOG Resources by 871.7% in the fourth quarter. DRW Securities LLC now owns 20,891 shares of the energy exploration company’s stock valued at $2,527,000 after acquiring an additional 18,741 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EOG. Sanford C. Bernstein dropped their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Citigroup boosted their target price on shares of EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Bank of America restated a “buy” rating and set a $151.00 price target on shares of EOG Resources in a research note on Friday, June 14th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, KeyCorp began coverage on shares of EOG Resources in a research note on Thursday, June 27th. They set an “overweight” rating and a $157.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.95.

EOG Resources Trading Down 1.0 %

Shares of EOG Resources stock traded down $1.20 during trading on Friday, reaching $120.35. The company’s stock had a trading volume of 3,144,135 shares, compared to its average volume of 3,138,585. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a market cap of $69.17 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 3.22 and a beta of 1.30. The firm’s 50-day moving average is $126.66 and its two-hundred day moving average is $125.99. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. The business had revenue of $6.03 billion during 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 for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.49 EPS. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 12.2 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a $0.91 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 annualized dividend and a dividend yield of 3.02%. EOG Resources’s dividend payout ratio is 28.75%.

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.