M&T Bank Corp Lowers Position in EOG Resources, Inc. $EOG

M&T Bank Corp lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 1.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 516,482 shares of the energy exploration company’s stock after selling 9,561 shares during the quarter. M&T Bank Corp’s holdings in EOG Resources were worth $54,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EOG. JCIC Asset Management Inc. purchased a new stake in shares of EOG Resources in the third quarter worth $32,000. Olistico Wealth LLC bought a new position in EOG Resources in the fourth quarter valued at $33,000. Physician Wealth Advisors Inc. increased its stake in EOG Resources by 103.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company’s stock valued at $35,000 after acquiring an additional 170 shares during the last quarter. Salomon & Ludwin LLC increased its stake in EOG Resources by 122.8% in the third quarter. Salomon & Ludwin LLC now owns 323 shares of the energy exploration company’s stock valued at $36,000 after acquiring an additional 178 shares during the last quarter. Finally, Quent Capital LLC bought a new position in EOG Resources in the third quarter valued at $37,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 0.1%

Shares of NYSE:EOG opened at $139.09 on Monday. The stock’s 50-day moving average price is $134.92 and its 200-day moving average price is $117.72. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The stock has a market capitalization of $74.51 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.73 and a beta of 0.27. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the firm earned $2.74 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that EOG Resources, Inc. will post 14.75 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, April 16th. EOG Resources’s dividend payout ratio (DPR) is 44.79%.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of research analyst reports. Piper Sandler increased their target price on EOG Resources from $144.00 to $147.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group increased their target price on EOG Resources from $133.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Scotiabank increased their target price on EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Roth Mkm increased their target price on EOG Resources from $110.00 to $134.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. increased their target price on EOG Resources from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.68.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,230 shares of company stock worth $2,522,568 over the last ninety days. Insiders own 0.14% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.