Carnegie Investment Counsel Lowers Stock Position in EOG Resources, Inc. (NYSE:EOG)

Carnegie Investment Counsel reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,400 shares of the energy exploration company’s stock after selling 101 shares during the period. Carnegie Investment Counsel’s holdings in EOG Resources were worth $554,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of EOG Resources during the second quarter worth approximately $27,000. Gladius Capital Management LP purchased a new stake in shares of EOG Resources in the second quarter valued at about $30,000. Sachetta LLC acquired a new stake in EOG Resources in the fourth quarter valued at about $33,000. Triad Wealth Partners LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $35,000. Finally, Norwood Financial Corp acquired a new stake in shares of EOG Resources in the 1st quarter valued at approximately $37,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EOG shares. Mizuho increased their target price on shares of EOG Resources from $140.00 to $156.00 and gave the company a “buy” rating in a report on Monday, May 13th. Scotiabank decreased their target price on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Susquehanna upped their price objective on shares of EOG Resources from $155.00 to $159.00 and gave the company a “positive” rating in a research note on Monday, August 5th. Sanford C. Bernstein lowered their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Finally, Citigroup increased their price target on EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 24th. Fourteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $144.15.

EOG Resources Stock Up 1.1 %

NYSE:EOG traded up $1.42 during mid-day trading on Wednesday, reaching $126.67. The stock had a trading volume of 495,443 shares, compared to its average volume of 3,157,612. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05. The stock’s 50 day simple moving average is $125.58 and its two-hundred day simple moving average is $124.91. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a market capitalization of $72.80 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 2.15 and a beta of 1.30.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a return on equity of 25.65% and a net margin of 30.33%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 EPS. Equities analysts anticipate that EOG Resources, Inc. will post 12.13 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.87%. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $4,434,135.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate 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.