Corebridge Financial Inc. Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Corebridge Financial Inc. lessened its holdings in EOG Resources, Inc. (NYSE:EOG) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,331 shares of the energy exploration company’s stock after selling 5,960 shares during the period. Corebridge Financial Inc.’s holdings in EOG Resources were worth $19,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC boosted its holdings in EOG Resources by 4,642.2% in the fourth quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company’s stock valued at $349,627,000 after purchasing an additional 2,792,092 shares during the period. Franklin Resources Inc. raised its position in EOG Resources by 64.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of EOG Resources in the 4th quarter valued at about $171,193,000. Fisher Asset Management LLC grew its position in shares of EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after buying an additional 781,282 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 2.5 %

NYSE EOG opened at $128.35 on Tuesday. The firm’s fifty day moving average is $128.99 and its two-hundred day moving average is $127.55. EOG Resources, Inc. has a one year low of $115.78 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market cap of $71.10 billion, a PE ratio of 10.33, a P/E/G ratio of 3.58 and a beta of 1.25.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio is presently 34.73%.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent research reports. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Wells Fargo & Company lowered their target price on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Mizuho dropped their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Truist Financial lifted their price target on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade 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 is available at this link. 0.30% of the stock is currently owned by insiders.

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.