Conning Inc. Sells 26,399 Shares of EOG Resources, Inc. $EOG

Conning Inc. reduced its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,163 shares of the energy exploration company’s stock after selling 26,399 shares during the quarter. Conning Inc. owned approximately 0.05% of EOG Resources worth $31,076,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in shares of EOG Resources by 4.2% during the second quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock valued at $736,712,000 after buying an additional 249,984 shares during the period. Invesco Ltd. grew its holdings in shares of EOG Resources by 7.0% during the 2nd quarter. Invesco Ltd. now owns 4,494,503 shares of the energy exploration company’s stock worth $537,588,000 after acquiring an additional 294,641 shares during the period. First Trust Advisors LP raised its position in shares of EOG Resources by 64.1% in the 2nd quarter. First Trust Advisors LP now owns 3,728,128 shares of the energy exploration company’s stock worth $445,921,000 after acquiring an additional 1,456,928 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of EOG Resources by 6.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,899,816 shares of the energy exploration company’s stock valued at $322,663,000 after purchasing an additional 184,387 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of EOG Resources by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,327,688 shares of the energy exploration company’s stock valued at $278,414,000 after purchasing an additional 154,775 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wolfe Research reduced their price target on EOG Resources from $138.00 to $134.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. The Goldman Sachs Group dropped their target price on shares of EOG Resources from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Barclays set a $136.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wells Fargo & Company lowered their price target on shares of EOG Resources from $127.00 to $126.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, Piper Sandler cut their price objective on shares of EOG Resources from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and a consensus target price of $137.74.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $110.69 on Thursday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $138.18. The firm’s 50-day moving average is $106.81 and its 200 day moving average is $112.91. The stock has a market cap of $60.06 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 8.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 1.43.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.48 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. EOG Resources’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $2.89 EPS. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, January 16th. EOG Resources’s payout ratio is presently 40.64%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the transaction, the chief operating officer directly owned 54,979 shares of the company’s stock, valued at approximately $5,810,180.72. This represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.