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

SVB Wealth LLC reduced its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,611 shares of the energy exploration company’s stock after selling 423 shares during the period. SVB Wealth LLC’s holdings in EOG Resources were worth $9,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Public Employees Retirement Association of Colorado boosted its stake in shares of EOG Resources by 33.3% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,211,782 shares of the energy exploration company’s stock worth $154,914,000 after purchasing an additional 303,031 shares during the period. Energy Income Partners LLC boosted its stake in shares of EOG Resources by 265.8% during the 1st quarter. Energy Income Partners LLC now owns 92,593 shares of the energy exploration company’s stock worth $11,837,000 after purchasing an additional 67,279 shares during the period. Hyperion Capital Advisors LP boosted its stake in shares of EOG Resources by 20.0% during the 1st quarter. Hyperion Capital Advisors LP now owns 2,400 shares of the energy exploration company’s stock worth $307,000 after purchasing an additional 400 shares during the period. Epoch Investment Partners Inc. boosted its stake in shares of EOG Resources by 10.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 14,132 shares of the energy exploration company’s stock worth $1,807,000 after purchasing an additional 1,295 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of EOG Resources during the 1st quarter worth about $124,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EOG. KeyCorp began coverage on shares of EOG Resources in a report on Thursday, June 27th. They set an “overweight” rating and a $157.00 price objective for the company. Barclays began coverage on shares of EOG Resources in a report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price objective for the company. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. 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. Finally, Susquehanna lifted their price objective on shares of EOG Resources from $147.00 to $155.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Fifteen investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.20.

EOG Resources Stock Performance

NYSE:EOG traded down $1.95 during trading hours on Monday, hitting $125.20. 2,343,619 shares of the company were exchanged, compared to its average volume of 3,182,712. The stock has a market capitalization of $71.95 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 2.22 and a beta of 1.30. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05. The company’s 50 day moving average price is $124.73 and its 200-day moving average price is $123.40.

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, topping the consensus estimate of $2.70 by $0.12. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. EOG Resources’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.69 EPS. As a group, research analysts forecast that EOG Resources, Inc. will post 12.13 earnings per share for the current year.

EOG Resources Dividend Announcement

The company 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 $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 2,685 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $130.29, for a total transaction of $349,828.65. Following the completion of the transaction, the executive vice president now directly owns 109,040 shares in the company, valued at $14,206,821.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ezra Y. Yacob sold 4,729 shares of the 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 completion of the sale, the chief executive officer now directly owns 150,474 shares in the company, valued at $19,457,792.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $130.29, for a total transaction of $349,828.65. Following the completion of the sale, the executive vice president now owns 109,040 shares of the company’s stock, valued at $14,206,821.60. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock worth $2,144,972 in the last three months. 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.