M&T Bank Corp Sells 8,746 Shares of EOG Resources, Inc. (NYSE:EOG)

M&T Bank Corp cut its position in EOG Resources, Inc. (NYSE:EOG) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,847 shares of the energy exploration company’s stock after selling 8,746 shares during the quarter. M&T Bank Corp owned about 0.11% of EOG Resources worth $80,897,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC raised its holdings in shares of EOG Resources by 77.6% in the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of EOG Resources by 530.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 212 shares during the period. Peoples Bank KS acquired a new position in shares of EOG Resources during the 3rd quarter worth approximately $31,000. Hall Laurie J Trustee bought a new stake in EOG Resources in the 4th quarter valued at $36,000. Finally, Keener Financial Planning LLC acquired a new stake in EOG Resources during the 4th quarter valued at $36,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of EOG Resources from $153.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on EOG Resources from $134.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, March 28th. Truist Financial lowered their target price on EOG Resources from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. TD Cowen boosted their price target on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Finally, Barclays began coverage on EOG Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $142.27.

EOG Resources Price Performance

Shares of EOG Resources stock traded down $1.78 during midday trading on Friday, hitting $130.02. 5,660,840 shares of the company traded hands, compared to its average volume of 2,953,117. The stock has a market cap of $74.79 billion, a price-to-earnings ratio of 10.27 and a beta of 1.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. The firm’s fifty day moving average price is $127.48 and its 200-day moving average price is $122.57. EOG Resources, Inc. has a 12 month low of $106.32 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.12. EOG Resources had a net margin of 30.33% and a return on equity of 25.11%. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $2.69 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 12.14 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be issued a $0.91 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.80%. EOG Resources’s payout ratio is presently 28.75%.

EOG Resources Company 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.