EOG Resources, Inc. (NYSE:EOG) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,126,401 shares of the energy exploration company's stock after selling 1,043,101 shares during the period. Bank of New York Mellon Corp owned about 0.73% of EOG Resources worth $505,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pine Valley Investments Ltd Liability Co purchased a new stake in EOG Resources during the fourth quarter worth about $217,000. BankPlus Trust Department purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $97,000. Edge Capital Group LLC lifted its holdings in shares of EOG Resources by 1.7% in the fourth quarter. Edge Capital Group LLC now owns 12,639 shares of the energy exploration company's stock valued at $1,549,000 after purchasing an additional 206 shares in the last quarter. Rothschild Investment LLC lifted its holdings in shares of EOG Resources by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 10,197 shares of the energy exploration company's stock valued at $1,250,000 after purchasing an additional 192 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of EOG Resources by 4.2% in the fourth quarter. IFP Advisors Inc now owns 13,121 shares of the energy exploration company's stock valued at $1,609,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EOG. Wolfe Research raised shares of EOG Resources from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Raymond James upped their price target on shares of EOG Resources from $167.00 to $175.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Bank of America reaffirmed a "neutral" rating and issued a $144.00 price target (down previously from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Citigroup upped their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and a consensus price target of $145.30.

EOG Resources Trading Down 2.8 %

EOG stock traded down $3.62 on Friday, hitting $126.99. 6,868,662 shares of the company were exchanged, compared to its average volume of 2,926,389. EOG Resources, Inc. has a twelve month low of $113.83 and a twelve month high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business's fifty day moving average is $129.30 and its two-hundred day moving average is $127.88. The stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. As a group, research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 16th. EOG Resources's payout ratio is currently 31.40%.

EOG Resources declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company's stock.

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.