Concord Wealth Partners Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Concord Wealth Partners lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 53.7% during the third quarter, Holdings Channel.com reports. The firm owned 3,775 shares of the energy exploration company’s stock after selling 4,370 shares during the quarter. Concord Wealth Partners’ holdings in EOG Resources were worth $464,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of EOG Resources during the first quarter worth about $202,000. Vicus Capital bought a new stake in shares of EOG Resources in the 1st quarter worth $273,000. Aviance Capital Partners LLC bought a new stake in EOG Resources in the 1st quarter worth approximately $288,000. Miracle Mile Advisors LLC boosted its stake in shares of EOG Resources by 8.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 5,510 shares of the energy exploration company’s stock worth $704,000 after buying an additional 423 shares during the last quarter. Finally, Claro Advisors LLC grew its stake in shares of EOG Resources by 7.5% during the 1st quarter. Claro Advisors LLC now owns 6,424 shares of the energy exploration company’s stock valued at $821,000 after purchasing an additional 449 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Down 1.1 %

Shares of EOG stock traded down $1.36 during mid-day trading on Monday, hitting $121.81. The stock had a trading volume of 550,689 shares, compared to its average volume of 3,142,944. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The firm’s 50-day moving average is $125.95 and its two-hundred day moving average is $126.66. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The firm has a market capitalization of $70.01 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 3.26 and a beta of 1.28.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts predict that EOG Resources, Inc. will post 11.71 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.99%. EOG Resources’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EOG shares. Scotiabank lowered their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. Evercore ISI reduced their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company decreased their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, Wolfe Research initiated coverage on shares of EOG Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Fourteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.20.

EOG Resources Profile

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.