Optimum Investment Advisors Reduces Holdings in EOG Resources, Inc. (NYSE:EOG)

Optimum Investment Advisors trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 44.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850 shares of the energy exploration company’s stock after selling 675 shares during the period. Optimum Investment Advisors’ holdings in EOG Resources were worth $109,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Covestor Ltd grew its stake in EOG Resources by 7.2% in the 3rd quarter. Covestor Ltd now owns 1,215 shares of the energy exploration company’s stock worth $154,000 after acquiring an additional 82 shares during the period. Fragasso Group Inc. grew its stake in EOG Resources by 2.2% in the 4th quarter. Fragasso Group Inc. now owns 3,912 shares of the energy exploration company’s stock worth $473,000 after acquiring an additional 86 shares during the period. Moody National Bank Trust Division grew its stake in EOG Resources by 1.0% in the 1st quarter. Moody National Bank Trust Division now owns 8,420 shares of the energy exploration company’s stock worth $1,076,000 after acquiring an additional 87 shares during the period. FinTrust Capital Advisors LLC grew its stake in EOG Resources by 26.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 420 shares of the energy exploration company’s stock worth $51,000 after acquiring an additional 89 shares during the period. Finally, First United Bank & Trust grew its stake in EOG Resources by 1.8% in the 4th quarter. First United Bank & Trust now owns 5,160 shares of the energy exploration company’s stock worth $624,000 after acquiring an additional 91 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $122.05 on Friday. EOG Resources, Inc. has a twelve month low of $106.34 and a twelve month high of $139.67. The firm has a market cap of $70.14 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32. The firm’s 50-day simple moving average is $127.01 and its 200-day simple moving average is $122.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.12. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm posted $2.69 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that EOG Resources, Inc. will post 12.07 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio is presently 28.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EOG. JPMorgan Chase & Co. lifted their price target on shares of EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. Susquehanna lifted their price target on shares of EOG Resources from $147.00 to $155.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Stifel Nicolaus dropped their price target on shares of EOG Resources from $153.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Mizuho lifted their price target on shares of EOG Resources from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, KeyCorp boosted their target price on shares of EOG Resources from $147.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $143.19.

Insiders Place Their Bets

In other news, CEO Ezra Y. Yacob sold 4,729 shares of EOG Resources stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the sale, the chief executive officer now owns 150,474 shares in the company, valued at approximately $19,457,792.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the transaction, the chief executive officer now owns 150,474 shares in the company, valued at $19,457,792.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 7,802 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the transaction, the chief operating officer now owns 39,054 shares of the company’s stock, valued at approximately $5,079,753.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,512 shares of company stock valued at $2,144,972. Insiders own 0.30% of the company’s stock.

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.