Pinnacle Bancorp Inc. Decreases Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Pinnacle Bancorp Inc. lowered its position in EOG Resources, Inc. (NYSE:EOG) by 23.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,935 shares of the energy exploration company’s stock after selling 607 shares during the period. Pinnacle Bancorp Inc.’s holdings in EOG Resources were worth $248,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EOG. Capital World Investors raised its stake in EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after buying an additional 2,270,013 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after purchasing an additional 781,282 shares in the last quarter. Geode Capital Management LLC boosted its stake in EOG Resources by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock worth $1,541,282,000 after purchasing an additional 234,067 shares in the last quarter. Northern Trust Corp grew its position in EOG Resources by 2.9% during the 4th quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock worth $701,036,000 after purchasing an additional 159,216 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after buying an additional 365,115 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now directly 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 document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EOG shares. Citigroup cut their price objective on EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Friday, June 20th. Barclays upped their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Susquehanna lowered their price objective on EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. 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. According to data from MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and a consensus price target of $139.48.

EOG Resources Stock Down 1.0%

Shares of NYSE EOG opened at $120.77 on Wednesday. The stock has a market cap of $65.92 billion, a PE ratio of 11.20, a P/E/G ratio of 9.97 and a beta of 0.74. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a 50-day moving average of $114.05 and a 200 day moving average of $121.46.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the business earned $2.82 earnings per share. The business’s revenue was down 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s payout ratio is currently 36.18%.

About EOG Resources

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.