AE Wealth Management LLC Grows Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• AE Wealth Management LLC increased its stake in EOG Resources by 96.3%, acquiring an additional 2,062 shares, bringing its total holdings to 4,204 shares valued at approximately $539,000.
• EOG Resources recently announced a quarterly dividend increase from $0.98 to $1.02 per share, yielding 3.31%, with the ex-dividend date set for October 17th.
• The company reported $2.87 EPS for its latest quarter, surpassing analysts' expectations, although revenue declined by 7.4% year-over-year to $5.84 billion.

AE Wealth Management LLC grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 96.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,204 shares of the energy exploration company's stock after acquiring an additional 2,062 shares during the period. AE Wealth Management LLC's holdings in EOG Resources were worth $539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EOG. Capital World Investors lifted its position in shares of EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after acquiring an additional 2,270,013 shares during the period. GAMMA Investing LLC lifted its position in shares of EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after acquiring an additional 1,272,765 shares during the period. Deutsche Bank AG increased its stake in shares of EOG Resources by 58.6% during the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock worth $255,139,000 after purchasing an additional 769,362 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of EOG Resources by 134.7% during the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock worth $158,720,000 after purchasing an additional 743,202 shares in the last quarter. Finally, Demars Financial Group LLC increased its stake in shares of EOG Resources by 12,422.5% during the 4th quarter. Demars Financial Group LLC now owns 643,156 shares of the energy exploration company's stock worth $78,838,000 after purchasing an additional 638,020 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Trading Down 2.8%

Shares of NYSE EOG traded down $3.38 during trading on Friday, hitting $116.64. 2,688,978 shares of the company traded hands, compared to its average volume of 2,830,165. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a 50-day moving average price of $118.83 and a 200-day moving average price of $120.78. The firm has a market capitalization of $63.66 billion, a P/E ratio of 10.82, a P/E/G ratio of 9.22 and a beta of 0.80. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 EPS. On average, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 a boost 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 is 36.18%.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EOG. Barclays raised their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. KeyCorp dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Royal Bank Of Canada dropped their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Finally, Stephens began coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and an average price target 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.