SouthState Corp Reduces Holdings in EOG Resources, Inc. (NYSE:EOG)

SouthState Corp trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,854 shares of the energy exploration company’s stock after selling 817 shares during the quarter. SouthState Corp’s holdings in EOG Resources were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after buying an additional 781,282 shares during the period. Geode Capital Management LLC boosted its stake in shares of EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares during the period. Franklin Resources Inc. boosted its stake in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares during the period. Pacer Advisors Inc. boosted its stake in shares of EOG Resources by 5.0% during the fourth quarter. Pacer Advisors Inc. now owns 4,469,142 shares of the energy exploration company’s stock valued at $547,827,000 after purchasing an additional 214,497 shares during the period. Finally, Wealthfront Advisers LLC boosted its stake in shares of EOG Resources by 4,642.2% during the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock valued at $349,627,000 after purchasing an additional 2,792,092 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EOG shares. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday. Raymond James boosted their target price on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their price objective on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their price objective on EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $145.86.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

EOG opened at $124.04 on Monday. EOG Resources, Inc. has a 52-week low of $115.78 and a 52-week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market cap of $68.71 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. The firm’s 50-day moving average price is $129.55 and its 200-day moving average price is $127.60.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.14%. EOG Resources’s dividend payout ratio (DPR) is currently 34.73%.

EOG Resources 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.