Cypress Capital Group Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Cypress Capital Group lowered its position in shares of EOG Resources, Inc. (NYSE:EOG) by 18.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,904 shares of the energy exploration company’s stock after selling 1,114 shares during the period. Cypress Capital Group’s holdings in EOG Resources were worth $617,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in EOG Resources during the second quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources during the second quarter valued at about $28,000. Gladius Capital Management LP bought a new stake in EOG Resources during the second quarter valued at about $30,000. Sachetta LLC bought a new stake in EOG Resources during the fourth quarter valued at about $33,000. Finally, Triad Wealth Partners LLC acquired a new stake in EOG Resources in the second quarter worth about $35,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of EOG Resources 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 sale, the director now directly owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock traded up $2.61 on Monday, reaching $129.51. The company’s stock had a trading volume of 536,815 shares, compared to its average volume of 3,141,861. The company has a market capitalization of $74.43 billion, a P/E ratio of 10.02, a PEG ratio of 2.15 and a beta of 1.30. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The stock has a 50-day moving average price of $125.96 and a 200-day moving average price of $125.21. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a return on equity of 25.65% and a net margin of 30.33%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. Analysts expect that EOG Resources, Inc. will post 12.13 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio is presently 28.75%.

Analysts Set New Price Targets

EOG has been the subject of several recent analyst reports. Bank of America reissued a “buy” rating and issued a $151.00 price target on shares of EOG Resources in a report on Friday, June 14th. Citigroup raised their price target on EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Mizuho raised their price objective on EOG Resources from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial reduced their price objective on EOG Resources from $136.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Piper Sandler reduced their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus target price of $144.15.

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.