American Century Companies Inc. Grows Holdings in EOG Resources, Inc. $EOG

Key Points

• American Century Companies Inc. increased its stake in EOG Resources by 5.8%, acquiring an additional 167,651 shares and now holds approximately $392.3 million worth of shares.
• EOG Resources reported earnings of $2.32 per share for the last quarter, beating estimates of $2.14, despite a 9.1% year-over-year revenue decline.
• The company announced an increase in its quarterly dividend to $1.02, from the previous $0.98, representing an annual yield of 3.4%.

American Century Companies Inc. grew its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,059,209 shares of the energy exploration company's stock after buying an additional 167,651 shares during the period. American Century Companies Inc. owned approximately 0.56% of EOG Resources worth $392,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in EOG. Ethic Inc. lifted its holdings in EOG Resources by 20.7% during the 1st quarter. Ethic Inc. now owns 5,282 shares of the energy exploration company's stock valued at $683,000 after buying an additional 905 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in EOG Resources by 6.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,601 shares of the energy exploration company's stock valued at $847,000 after buying an additional 411 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in EOG Resources by 48.7% during the 1st quarter. Brandywine Global Investment Management LLC now owns 671,075 shares of the energy exploration company's stock valued at $86,059,000 after buying an additional 219,860 shares in the last quarter. Element Capital Management LLC bought a new stake in EOG Resources during the 1st quarter valued at about $2,707,000. Finally, Aberdeen Group plc raised its holdings in shares of EOG Resources by 84.1% in the 1st quarter. Aberdeen Group plc now owns 324,826 shares of the energy exploration company's stock valued at $41,885,000 after purchasing an additional 148,382 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $148.00 price objective (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Piper Sandler dropped their price objective 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. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. Barclays increased their price target on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Finally, Stephens started coverage on shares of EOG Resources in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $143.52.

EOG Resources Stock Up 0.7%

Shares of NYSE EOG traded up $0.8550 during midday trading on Wednesday, hitting $118.1750. The company's stock had a trading volume of 771,444 shares, compared to its average volume of 3,607,272. The business's fifty day simple moving average is $120.34 and its two-hundred day simple moving average is $119.26. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The firm has a market capitalization of $64.52 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 9.03 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.16 earnings per share. On average, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. 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. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is presently 37.90%.

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.