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

Corebridge Financial Inc. decreased its stake in EOG Resources, Inc. (NYSE:EOG) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 161,331 shares of the energy exploration company’s stock after selling 5,960 shares during the quarter. Corebridge Financial Inc.’s holdings in EOG Resources were worth $19,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Insight Inv LLC grew its holdings in EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock valued at $1,154,000 after purchasing an additional 75 shares during the last quarter. Essex Financial Services Inc. grew its stake in EOG Resources by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after acquiring an additional 79 shares during the last quarter. Valmark Advisers Inc. increased its holdings in EOG Resources by 2.6% during the 4th quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock valued at $385,000 after acquiring an additional 79 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in EOG Resources by 8.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after acquiring an additional 80 shares in the last quarter. Finally, 1ST Source Bank raised its position in EOG Resources by 1.5% during the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock worth $656,000 after acquiring an additional 80 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

EOG has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Piper Sandler cut their price target on EOG Resources from $141.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Mizuho decreased their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Twelve investment 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’s stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

EOG Resources Stock Up 2.5 %

EOG opened at $128.35 on Tuesday. EOG Resources, Inc. has a 1 year low of $115.78 and a 1 year high of $139.67. The firm has a 50 day moving average price of $128.99 and a 200 day moving average price of $127.55. 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 company has a market cap of $71.10 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. Sell-side analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

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

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.