Swedbank AB Raises Stake in EOG Resources, Inc. (NYSE:EOG)

Swedbank AB raised its position in EOG Resources, Inc. (NYSE:EOG) by 132.0% in the third quarter, Holdings Channel reports. The fund owned 223,432 shares of the energy exploration company’s stock after buying an additional 127,126 shares during the period. Swedbank AB’s holdings in EOG Resources were worth $27,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norway Savings Bank lifted its stake in EOG Resources by 4.4% in the third quarter. Norway Savings Bank now owns 7,963 shares of the energy exploration company’s stock worth $979,000 after acquiring an additional 336 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC lifted its stake in EOG Resources by 13.9% in the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 325,975 shares of the energy exploration company’s stock worth $40,072,000 after acquiring an additional 39,889 shares during the last quarter. Creative Planning lifted its stake in EOG Resources by 0.9% in the third quarter. Creative Planning now owns 209,875 shares of the energy exploration company’s stock worth $25,800,000 after acquiring an additional 1,773 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in EOG Resources by 3.6% during the third quarter. Wesbanco Bank Inc. now owns 65,153 shares of the energy exploration company’s stock worth $8,009,000 after purchasing an additional 2,239 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in EOG Resources by 11.8% during the third quarter. Grove Bank & Trust now owns 844 shares of the energy exploration company’s stock worth $104,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Scotiabank cut their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. KeyCorp cut their price objective on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, Truist Financial cut their price objective 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. Fourteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $141.20.

EOG Resources Stock Performance

Shares of EOG opened at $127.37 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The stock has a market capitalization of $73.20 billion, a P/E ratio of 10.06, a P/E/G ratio of 3.38 and a beta of 1.28. The company’s fifty day moving average is $126.24 and its two-hundred day moving average is $127.17. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. On average, sell-side analysts predict that EOG Resources, Inc. will post 11.83 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a dividend yield of 2.86%. EOG Resources’s dividend payout ratio is presently 28.75%.

Insider Activity at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction 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 approximately $4,434,135.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is owned by insiders.

EOG Resources Company Profile

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.