Independence Bank of Kentucky Sells 520 Shares of EOG Resources, Inc. (NYSE:EOG)

Independence Bank of Kentucky decreased its stake in EOG Resources, Inc. (NYSE:EOG) by 23.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,700 shares of the energy exploration company’s stock after selling 520 shares during the period. Independence Bank of Kentucky’s holdings in EOG Resources were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EOG. Mountain Lake Investment Management LLC bought a new position in shares of EOG Resources in the 4th quarter valued at $735,000. Silvercrest Asset Management Group LLC increased its holdings in EOG Resources by 14.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company’s stock worth $101,256,000 after purchasing an additional 106,677 shares in the last quarter. Tobam bought a new position in EOG Resources in the fourth quarter valued at about $352,000. Marble Harbor Investment Counsel LLC raised its position in EOG Resources by 3.2% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 103,037 shares of the energy exploration company’s stock valued at $12,630,000 after purchasing an additional 3,150 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of EOG Resources by 10.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,112 shares of the energy exploration company’s stock valued at $14,601,000 after purchasing an additional 10,910 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

EOG stock opened at $113.93 on Friday. The firm has a market cap of $62.18 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $111.51 and a 200-day moving average price of $122.32. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.82 earnings per share. As a group, equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources’s dividend payout ratio is presently 36.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EOG shares. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Bank of America reduced their target price on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Williams Trading set a $154.00 price target on shares of EOG Resources in a research report on Wednesday, March 5th. Mizuho cut their price target on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company reduced their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Eleven equities research 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, the stock has an average rating of “Moderate Buy” and an average target price of $139.58.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the transaction, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. The trade was a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

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.