Royal Bank of Canada Sells 342,950 Shares of EOG Resources, Inc. $EOG

Royal Bank of Canada lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,774,748 shares of the energy exploration company’s stock after selling 342,950 shares during the period. Royal Bank of Canada owned 0.71% of EOG Resources worth $545,715,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $25,000. SJS Investment Consulting Inc. increased its stake in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after acquiring an additional 124 shares during the period. Prosperity Bancshares Inc acquired a new position in EOG Resources in the 4th quarter valued at approximately $26,000. Nemes Rush Group LLC acquired a new position in EOG Resources in the 4th quarter valued at approximately $30,000. Finally, Financial Life Planners bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $30,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Down 0.4%

EOG stock opened at $139.72 on Wednesday. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The business has a fifty day moving average price of $136.61 and a 200 day moving average price of $130.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The stock has a market capitalization of $74.42 billion, a price-to-earnings ratio of 13.75 and a beta of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the business earned $2.87 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts expect that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be 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 is Friday, July 17th. EOG Resources’s payout ratio is 40.16%.

Analyst Ratings Changes

EOG has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Piper Sandler raised their price objective on shares of EOG Resources from $144.00 to $147.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Mizuho set a $157.00 target price on shares of EOG Resources and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Raymond James Financial lowered their target price on shares of EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a research note on Monday, June 22nd. Finally, Capital One Financial dropped their target price on EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.32.

EOG Resources 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.