M&T Bank Corp Sells 10,770 Shares of EOG Resources, Inc. (NYSE:EOG)

M&T Bank Corp reduced its position in EOG Resources, Inc. (NYSE:EOG) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 593,504 shares of the energy exploration company’s stock after selling 10,770 shares during the quarter. M&T Bank Corp’s holdings in EOG Resources were worth $72,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EOG. Financial Life Planners bought a new position in EOG Resources in the fourth quarter worth $25,000. Y.D. More Investments Ltd increased its stake in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after buying an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at $25,000. Decker Retirement Planning Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at $27,000. Finally, Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at $27,000. 89.91% of the stock is owned by institutional investors.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of research reports. Mizuho lowered their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Morgan Stanley lowered their target price on EOG Resources from $143.00 to $142.00 and set an “equal weight” rating for the company in a research note on Monday. Bank of America reiterated a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Citigroup lifted their price objective on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Raymond James lifted their price objective on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.10.

EOG Resources Trading Up 1.4 %

NYSE:EOG opened at $122.21 on Wednesday. EOG Resources, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock has a market capitalization of $68.74 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The business’s 50-day simple moving average is $129.34 and its 200-day simple moving average is $127.80.

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

EOG Resources announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is 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.