First Republic Investment Management Inc. trimmed its position in EOG Resources, Inc. (NYSE:EOG – Get Rating) by 2.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 799,182 shares of the energy exploration company’s stock after selling 18,466 shares during the period. First Republic Investment Management Inc.’s holdings in EOG Resources were worth $95,286,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in EOG. Waldron Private Wealth LLC purchased a new position in EOG Resources during the 1st quarter valued at about $231,000. Valeo Financial Advisors LLC bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $223,000. Burney Co. purchased a new stake in shares of EOG Resources in the 1st quarter worth approximately $216,000. Stratos Wealth Partners LTD. bought a new position in EOG Resources during the 1st quarter valued at approximately $2,135,000. Finally, Heritage Trust Co purchased a new position in EOG Resources during the first quarter valued at $262,000. Institutional investors own 88.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on EOG shares. Bank of America raised EOG Resources from a “neutral” rating to a “buy” rating and cut their target price for the stock from $146.00 to $119.00 in a research note on Tuesday, July 19th. Barclays decreased their target price on shares of EOG Resources from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. Mizuho cut their price target on shares of EOG Resources from $173.00 to $167.00 and set a “buy” rating on the stock in a report on Thursday, August 18th. KeyCorp raised their price target on shares of EOG Resources from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 26th. Finally, Royal Bank of Canada downgraded EOG Resources from an “outperform” rating to a “sector perform” rating and set a $150.00 target price on the stock. in a research note on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.
EOG Resources Stock Performance
EOG Resources (NYSE:EOG – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $4.25 by ($1.51). The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $5.58 billion. EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The company’s revenue was up 79.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 EPS. On average, equities research analysts predict that EOG Resources, Inc. will post 15.89 EPS for the current year.
EOG Resources Increases Dividend
The business also recently disclosed a special dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This is an increase from EOG Resources’s previous special dividend of $1.00. EOG Resources’s dividend payout ratio (DPR) is 30.77%.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.
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