Payden & Rygel Decreases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Payden & Rygel decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,500 shares of the energy exploration company’s stock after selling 10,300 shares during the quarter. Payden & Rygel’s holdings in EOG Resources were worth $10,603,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EOG. Wealthfront Advisers LLC grew its holdings in EOG Resources by 4,642.2% during the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock worth $349,627,000 after acquiring an additional 2,792,092 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Raymond James Financial Inc. purchased a new position in EOG Resources in the fourth quarter valued at $171,193,000. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after buying an additional 781,282 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of EOG Resources by 577.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 696,596 shares of the energy exploration company’s stock worth $85,389,000 after acquiring an additional 593,823 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. The trade was a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Williams Trading set a $154.00 target price on shares of EOG Resources in a report on Wednesday, March 5th. Morgan Stanley cut their price target on shares of EOG Resources from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Truist Financial raised their price objective on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, UBS Group reduced their target price on EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $144.67.

EOG Resources Stock Down 7.9 %

EOG Resources stock opened at $110.39 on Friday. The stock’s 50 day moving average price is $127.14 and its 200 day moving average price is $127.80. The company has a market cap of $60.88 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1-year low of $109.20 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.975 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a yield of 3.53%. EOG Resources’s dividend payout ratio (DPR) is presently 34.73%.

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.