Redwood Investments LLC Cuts Holdings in EOG Resources, Inc. (NYSE:EOG)

Redwood Investments LLC reduced its position in EOG Resources, Inc. (NYSE:EOGFree Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,607 shares of the energy exploration company’s stock after selling 2,160 shares during the period. EOG Resources makes up about 1.1% of Redwood Investments LLC’s investment portfolio, making the stock its 28th biggest position. Redwood Investments LLC’s holdings in EOG Resources were worth $4,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. purchased a new position in shares of EOG Resources in the third quarter valued at about $4,431,000. Paradigm Financial Partners LLC lifted its position in shares of EOG Resources by 0.9% in the third quarter. Paradigm Financial Partners LLC now owns 30,004 shares of the energy exploration company’s stock worth $3,728,000 after buying an additional 271 shares in the last quarter. L. Roy Papp & Associates LLP increased its stake in EOG Resources by 18.3% during the fourth quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock worth $20,362,000 after acquiring an additional 26,026 shares during the last quarter. Pacer Advisors Inc. increased its stake in EOG Resources by 12.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,065,042 shares of the energy exploration company’s stock worth $370,717,000 after acquiring an additional 340,902 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in EOG Resources by 105.7% during the fourth quarter. SG Americas Securities LLC now owns 44,688 shares of the energy exploration company’s stock worth $5,405,000 after acquiring an additional 22,962 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EOG has been the topic of several analyst reports. UBS Group reduced their price objective on EOG Resources from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Piper Sandler cut their target price on EOG Resources from $153.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, March 7th. Susquehanna cut their target price on EOG Resources from $164.00 to $147.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. JPMorgan Chase & Co. upped their target price on EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Raymond James cut their target price on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.20.

Read Our Latest Research Report on EOG

EOG Resources Stock Performance

Shares of EOG opened at $127.84 on Monday. EOG Resources, Inc. has a 12 month low of $106.32 and a 12 month high of $136.79. The stock has a fifty day moving average price of $117.03 and a 200-day moving average price of $121.38. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The firm has a market cap of $74.15 billion, a PE ratio of 9.83 and a beta of 1.39.

EOG Resources (NYSE:EOGGet Free Report) last issued its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the prior year, the company posted $3.30 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts predict that EOG Resources, Inc. will post 11.43 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s payout ratio is presently 27.98%.

EOG Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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