407,621 Shares in EOG Resources, Inc. (NYSE:EOG) Bought by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. purchased 407,621 shares of EOG Resources, Inc. during the first quarter, valued at approximately $52.27 million, representing 0.07% ownership of the company.
• In recent analyst reports, Bank of America and KeyCorp have adjusted their price targets for EOG Resources, with KeyCorp lowering its target from $150 to $140, while maintaining an "overweight" rating.
• EOG Resources announced an increase in its quarterly dividend to $1.02 per share, yielding 3.5% annually, set to be paid on October 31st to investors of record by October 17th.

Jupiter Asset Management Ltd. bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 407,621 shares of the energy exploration company's stock, valued at approximately $52,273,000. Jupiter Asset Management Ltd. owned about 0.07% of EOG Resources as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EOG. Capital World Investors lifted its holdings in shares of EOG Resources by 5.2% during 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 purchasing an additional 2,270,013 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of EOG Resources by 14,784.1% in the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after purchasing an additional 1,272,765 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of EOG Resources by 58.6% in the fourth quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after purchasing an additional 769,362 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of EOG Resources by 134.7% in the fourth quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock valued at $158,720,000 after purchasing an additional 743,202 shares in the last quarter. Finally, Demars Financial Group LLC lifted its holdings in shares of EOG Resources by 12,422.5% in the fourth quarter. Demars Financial Group LLC now owns 643,156 shares of the energy exploration company's stock valued at $78,838,000 after purchasing an additional 638,020 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EOG shares. Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. KeyCorp lowered their price target on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Piper Sandler lowered their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and cut their price target for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. Twelve 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $140.62.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction 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 of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.

EOG Resources Trading Down 2.8%

Shares of EOG stock opened at $116.64 on Friday. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The firm's fifty day simple moving average is $118.96 and its 200 day simple moving average is $120.65. The firm has a market capitalization of $63.66 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 9.22 and a beta of 0.80. 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 (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. EOG Resources'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 year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.5%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is 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.

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