ABC Arbitrage SA Makes New $1.82 Million Investment in EOG Resources, Inc. (NYSE:EOG)

Key Points

• ABC Arbitrage SA acquired 14,209 shares of EOG Resources, valued at approximately $1.82 million, as part of its first-quarter investments.
• Multiple institutional investors, including Bank Pictet & Cie Europe AG and Federated Hermes Inc., have significantly increased their stakes in EOG Resources during the fourth quarter.
• EOG Resources announced a quarterly dividend increase to $1.02, representing a yield of 3.5%, with the next payout scheduled for October 31st.

ABC Arbitrage SA purchased a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,209 shares of the energy exploration company's stock, valued at approximately $1,822,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of 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 worth $5,628,497,000 after acquiring an additional 2,270,013 shares during the last quarter. Northern Trust Corp raised its position in EOG Resources by 2.9% in 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. Massachusetts Financial Services Co. MA lifted its holdings in EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after buying an additional 60,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in EOG Resources by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,874,964 shares of the energy exploration company's stock worth $597,476,000 after buying an additional 50,896 shares in the last quarter. Finally, Invesco Ltd. boosted its position in EOG Resources by 5.3% in the 4th quarter. Invesco Ltd. now owns 4,409,619 shares of the energy exploration company's stock valued at $540,531,000 after buying an additional 222,188 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Trading Down 0.9%

Shares of EOG stock traded down $1.10 on Wednesday, hitting $116.68. The stock had a trading volume of 3,050,415 shares, compared to its average volume of 2,859,118. 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 twelve month low of $102.52 and a twelve month high of $138.18. The company has a fifty day moving average price of $119.23 and a two-hundred day moving average price of $120.26. The firm has a market cap of $63.68 billion, a P/E ratio of 10.82, a PEG ratio of 9.02 and a beta of 0.80.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a dividend of $1.02 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's payout ratio is 36.18%.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley set a $135.00 target price on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Piper Sandler dropped their price objective on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Susquehanna upped their target price on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Twelve 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $140.62.

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.