Nicollet Investment Management Inc. Decreases Holdings in EOG Resources, Inc. (NYSE:EOG)

Nicollet Investment Management Inc. lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 1.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 26,054 shares of the energy exploration company’s stock after selling 441 shares during the period. EOG Resources accounts for approximately 1.2% of Nicollet Investment Management Inc.’s holdings, making the stock its 29th largest holding. Nicollet Investment Management Inc.’s holdings in EOG Resources were worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the second quarter worth $28,000. Gladius Capital Management LP bought a new stake in EOG Resources in the second quarter worth $30,000. Sachetta LLC purchased a new position in EOG Resources during the fourth quarter worth $33,000. Finally, Triad Wealth Partners LLC bought a new position in EOG Resources during the second quarter valued at $35,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

NYSE EOG opened at $118.97 on Wednesday. The firm’s fifty day simple moving average is $126.39 and its two-hundred day simple moving average is $126.23. The firm has a market capitalization of $67.65 billion, a P/E ratio of 9.40, a P/E/G ratio of 3.01 and a beta of 1.28. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. 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 quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same period last year, the business posted $2.49 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts forecast that EOG Resources, Inc. will post 12.2 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a yield of 3.06%. EOG Resources’s dividend payout ratio is currently 28.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EOG shares. UBS Group lifted their price target on shares of EOG Resources from $166.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Bank of America reiterated a “buy” rating and issued a $151.00 price target on shares of EOG Resources in a report on Friday, June 14th. Susquehanna decreased their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Piper Sandler cut their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, Citigroup lifted their price objective on shares of EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $143.95.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $9,615,375. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock valued at $2,751,612 over the last quarter. 0.30% of the stock is currently owned by company insiders.

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.