Ritholtz Wealth Management Sells 2,987 Shares of EOG Resources, Inc. (NYSE:EOG)

Posted by Defense World Staff on Mar 29th, 2023

Ritholtz Wealth Management cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG – Get Rating) by 40.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,376 shares of the energy exploration company’s stock after selling 2,987 shares during the period. Ritholtz Wealth Management’s holdings in EOG Resources were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. HM Payson & Co. lifted its holdings in EOG Resources by 54.3% in the third quarter. HM Payson & Co. now owns 233 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 82 shares during the period. Lumature Wealth Partners LLC acquired a new position in shares of EOG Resources in the 1st quarter valued at $28,000. Larson Financial Group LLC bought a new position in shares of EOG Resources in the 3rd quarter worth $31,000. Eagle Bay Advisors LLC acquired a new stake in shares of EOG Resources during the second quarter worth $33,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in EOG Resources by 1,436.8% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 292 shares of the energy exploration company’s stock valued at $34,000 after purchasing an additional 273 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EOG has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on EOG Resources from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Tuesday, March 7th. Morgan Stanley decreased their price objective on shares of EOG Resources from $140.00 to $132.00 and set an “overweight” rating for the company in a report on Monday. Johnson Rice lowered shares of EOG Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $177.00 to $163.00 in a report on Monday, December 5th. Truist Financial decreased their price target on shares of EOG Resources from $152.00 to $146.00 in a report on Thursday, December 15th. Finally, Credit Suisse Group reduced their target price on EOG Resources from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.68.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Michael T. Kerr bought 20,000 shares of EOG Resources stock in a transaction on Thursday, January 12th. The shares were purchased at an average price of $130.49 per share, with a total value of $2,609,800.00. Following the acquisition, the director now owns 170,000 shares in the company, valued at approximately $22,183,300. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

EOG Resources Stock Performance

EOG opened at $110.41 on Wednesday. The firm has a market capitalization of $64.89 billion, a PE ratio of 8.36, a PEG ratio of 0.29 and a beta of 1.52. EOG Resources, Inc. has a 52-week low of $92.16 and a 52-week high of $150.88. The business’s 50-day simple moving average is $120.43 and its 200 day simple moving average is $126.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.71 and a current ratio of 1.90.

EOG Resources (NYSE:EOG – Get Rating) last announced its quarterly earnings data on Friday, February 24th. The energy exploration company reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.09 billion. EOG Resources had a net margin of 30.19% and a return on equity of 34.95%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $3.09 EPS. As a group, sell-side analysts expect that EOG Resources, Inc. will post 12.54 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $3.30 annualized dividend and a dividend yield of 2.99%. EOG Resources’s dividend payout ratio is 24.98%.

About EOG Resources

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EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.