Sumitomo Life Insurance Co. Acquires 421 Shares of EOG Resources, Inc. (NYSE:EOG)

Sumitomo Life Insurance Co. grew its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 24,784 shares of the energy exploration company’s stock after acquiring an additional 421 shares during the period. Sumitomo Life Insurance Co.’s holdings in EOG Resources were worth $3,047,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nexus Investment Management ULC boosted its holdings in shares of EOG Resources by 1.2% in the third quarter. Nexus Investment Management ULC now owns 198,498 shares of the energy exploration company’s stock valued at $24,401,000 after purchasing an additional 2,260 shares during the period. Kapitalo Investimentos Ltda raised its position in EOG Resources by 183.6% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 5,045 shares of the energy exploration company’s stock valued at $620,000 after purchasing an additional 3,266 shares in the last quarter. Petredis Investment Advisors LLC lifted its holdings in shares of EOG Resources by 0.3% in the 3rd quarter. Petredis Investment Advisors LLC now owns 48,483 shares of the energy exploration company’s stock worth $5,960,000 after buying an additional 140 shares during the period. Magnus Financial Group LLC grew its position in shares of EOG Resources by 5.3% during the 3rd quarter. Magnus Financial Group LLC now owns 2,973 shares of the energy exploration company’s stock worth $366,000 after buying an additional 149 shares in the last quarter. Finally, Lockerman Financial Group Inc. grew its position in shares of EOG Resources by 11.6% during the 3rd quarter. Lockerman Financial Group Inc. now owns 2,372 shares of the energy exploration company’s stock worth $292,000 after buying an additional 247 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred 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 owns 35,058 shares in the company, valued at $4,434,135.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares in the company, valued at $4,434,135.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays lowered their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research report on Monday. Piper Sandler cut their price objective on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Finally, Morgan Stanley dropped their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Fourteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.20.

EOG Resources Stock Performance

EOG stock traded up $0.26 during trading on Wednesday, reaching $127.54. The company had a trading volume of 268,682 shares, compared to its average volume of 3,174,070. The company has a market cap of $73.30 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 3.38 and a beta of 1.28. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The firm has a 50-day simple moving average of $126.15 and a 200-day simple moving average of $127.17.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period in the previous year, the firm posted $2.49 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts expect that EOG Resources, Inc. will post 11.83 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend 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.