Wahed Invest LLC Cuts Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Wahed Invest LLC reduced its stake in EOG Resources, Inc. (NYSE:EOG – Free Report) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,426 shares of the energy exploration company’s stock after selling 145 shares during the quarter. Wahed Invest LLC’s holdings in EOG Resources were worth $851,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EOG. Cetera Investment Advisers boosted its holdings in EOG Resources by 16.0% during the first quarter. Cetera Investment Advisers now owns 16,031 shares of the energy exploration company’s stock worth $1,911,000 after purchasing an additional 2,213 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of EOG Resources in the 1st quarter worth approximately $404,000. Sequoia Financial Advisors LLC purchased a new stake in shares of EOG Resources during the first quarter valued at approximately $278,000. Zions Bancorporation N.A. increased its position in shares of EOG Resources by 237.7% during the first quarter. Zions Bancorporation N.A. now owns 1,155 shares of the energy exploration company’s stock valued at $138,000 after acquiring an additional 813 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in EOG Resources by 23.7% during the first quarter. Brown Brothers Harriman & Co. now owns 662 shares of the energy exploration company’s stock worth $79,000 after acquiring an additional 127 shares during the period. 89.21% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of EOG traded down $1.10 during midday trading on Monday, hitting $131.63. 831,113 shares of the company traded hands, compared to its average volume of 3,378,488. EOG Resources, Inc. has a one year low of $98.52 and a one year high of $150.88. The firm has a market cap of $76.64 billion, a P/E ratio of 8.94, a PEG ratio of 0.41 and a beta of 1.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.39 and a quick ratio of 2.02. The stock has a 50-day moving average of $126.55 and a 200-day moving average of $118.12.

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EOG Resources (NYSE:EOG – Get Free Report) last posted its earnings results on Thursday, August 3rd. The energy exploration company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.21. EOG Resources had a net margin of 33.58% and a return on equity of 28.52%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm posted $2.74 EPS. EOG Resources’s revenue was down 24.8% on a year-over-year basis. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.08 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 17th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, October 16th. EOG Resources’s dividend payout ratio is 22.24%.

Insider Buying and Selling

In other news, COO Lloyd W. Helms, Jr. sold 4,551 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $130.76, for a total value of $595,088.76. Following the completion of the sale, the chief operating officer now owns 145,259 shares of the company’s stock, valued at approximately $18,994,066.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other EOG Resources news, COO Lloyd W. Helms, Jr. sold 4,551 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $130.76, for a total value of $595,088.76. Following the completion of the sale, the chief operating officer now directly owns 145,259 shares of the company’s stock, valued at $18,994,066.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey R. Leitzell sold 2,031 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $117.26, for a total value of $238,155.06. Following the transaction, the executive vice president now directly owns 37,607 shares in the company, valued at $4,409,796.82. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

EOG has been the subject of several research analyst reports. Tudor, Pickering, Holt & Co. lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Morgan Stanley raised their price objective on shares of EOG Resources from $125.00 to $129.00 and gave the stock an “overweight” rating in a report on Friday, August 18th. Wells Fargo & Company dropped their target price on shares of EOG Resources from $154.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. StockNews.com began coverage on shares of EOG Resources in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Jefferies Financial Group upped their price objective on EOG Resources from $141.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

View Our Latest Research Report on EOG

About EOG Resources

(Free Report)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. The company was formerly known as Enron Oil & Gas Company.