Pekin Hardy Strauss Inc. Trims Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Pekin Hardy Strauss Inc. trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 9.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 34,369 shares of the energy exploration company’s stock after selling 3,700 shares during the period. Pekin Hardy Strauss Inc.’s holdings in EOG Resources were worth $4,157,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EOG. Qube Research & Technologies Ltd increased its stake in EOG Resources by 863.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,100,068 shares of the energy exploration company’s stock valued at $139,445,000 after buying an additional 985,884 shares during the period. Ameriprise Financial Inc. lifted its position in EOG Resources by 8.4% in the third quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock valued at $1,462,966,000 after purchasing an additional 892,951 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in EOG Resources during the 3rd quarter worth approximately $71,596,000. Invesco Ltd. raised its stake in shares of EOG Resources by 15.2% during the 3rd quarter. Invesco Ltd. now owns 3,495,485 shares of the energy exploration company’s stock worth $443,088,000 after buying an additional 460,872 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of EOG Resources by 38.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,474,807 shares of the energy exploration company’s stock valued at $186,946,000 after buying an additional 408,833 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Down 3.0 %

Shares of NYSE:EOG traded down $4.12 during midday trading on Tuesday, reaching $132.13. The company had a trading volume of 3,422,970 shares, compared to its average volume of 3,351,722. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $126.15 and its 200 day moving average price is $122.49. The stock has a market cap of $76.00 billion, a PE ratio of 10.35 and a beta of 1.40. EOG Resources, Inc. has a 1-year low of $106.32 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last released its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the prior year, the business posted $3.30 earnings per share. EOG Resources’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts forecast that EOG Resources, Inc. will post 12.3 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.75%. EOG Resources’s dividend payout ratio is currently 27.98%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James cut their price objective on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. TD Cowen raised their price objective on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research note on Tuesday. Susquehanna upped their price objective on EOG Resources from $147.00 to $155.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Citigroup upped their target price on shares of EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Finally, Scotiabank lowered EOG Resources from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $135.00 to $155.00 in a research note on Thursday, April 11th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $142.27.

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.