Anchor Investment Management LLC Cuts Position in EOG Resources, Inc. (NYSE:EOG)

Anchor Investment Management LLC cut its holdings in EOG Resources, Inc. (NYSE:EOG) by 75.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 953 shares of the energy exploration company’s stock after selling 2,878 shares during the period. Anchor Investment Management LLC’s holdings in EOG Resources were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of EOG. Vanguard Group Inc. grew its stake in EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after purchasing an additional 146,674 shares during the period. Capital Research Global Investors grew its position in EOG Resources by 1.3% during the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after buying an additional 373,365 shares during the period. Capital World Investors increased its holdings in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after buying an additional 1,361,538 shares during the last quarter. Ameriprise Financial Inc. raised its position in EOG Resources by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after acquiring an additional 260,727 shares during the period. Finally, Capital International Investors boosted its stake in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after acquiring an additional 766,056 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Wolfe Research initiated coverage on EOG Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein lowered their price objective on EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Finally, Bank of America reaffirmed a “buy” rating and set a $151.00 price objective on shares of EOG Resources in a report on Friday, June 14th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $142.15.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock valued at $2,751,612 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Trading Up 1.8 %

EOG Resources stock opened at $133.12 on Friday. The stock has a market cap of $76.51 billion, a P/E ratio of 10.52, a PEG ratio of 3.27 and a beta of 1.28. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm’s fifty day moving average price is $125.16 and its 200-day moving average price is $126.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter last year, the firm posted $2.49 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that EOG Resources, Inc. will post 11.91 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.73%. EOG Resources’s payout ratio is presently 28.75%.

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.