Johnson Investment Counsel Inc. Reduces Stock Position in EOG Resources, Inc. (NYSE:EOG)

Johnson Investment Counsel Inc. reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 40.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,940 shares of the energy exploration company’s stock after selling 4,030 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in EOG Resources were worth $680,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pinnacle Holdings LLC purchased a new stake in shares of EOG Resources during the 1st quarter valued at approximately $25,000. Truvestments Capital LLC purchased a new stake in EOG Resources in the 2nd quarter worth approximately $25,000. Kalos Management Inc. purchased a new stake in EOG Resources in the 1st quarter worth approximately $27,000. Fortis Capital Advisors LLC purchased a new stake in EOG Resources in the 4th quarter worth approximately $28,000. Finally, Lumature Wealth Partners LLC purchased a new stake in EOG Resources in the 1st quarter worth approximately $28,000. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the topic of several recent analyst reports. Raymond James lowered their target price on shares of EOG Resources from $150.00 to $140.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. Piper Sandler increased their target price on shares of EOG Resources from $157.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, November 16th. UBS Group increased their target price on shares of EOG Resources from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Morgan Stanley increased their target price on shares of EOG Resources from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, October 2nd. Finally, StockNews.com assumed coverage on shares of EOG Resources in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.77.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $125.23 on Tuesday. The firm has a market cap of $73.03 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.36 and a beta of 1.51. EOG Resources, Inc. has a 12-month low of $98.52 and a 12-month high of $144.91. The company has a quick ratio of 2.10, a current ratio of 2.43 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $127.24 and its two-hundred day simple moving average is $122.54.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, January 16th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.83. EOG Resources’s dividend payout ratio (DPR) is 24.52%.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. The company was formerly known as Enron Oil & Gas Company.