Applied Finance Capital Management LLC Boosts Position in EOG Resources, Inc. $EOG

Key Points

• Applied Finance Capital Management nearly doubled its EOG Resources stake in the fourth quarter, buying 7,847 additional shares and bringing its total holdings to 15,951 shares worth about $1.68 million.
• EOG Resources posted strong quarterly results, beating Wall Street expectations with $3.41 EPS on $6.92 billion in revenue, while revenue rose 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, implying a 2.9% annualized yield, even as several insiders sold shares and analysts maintained a moderate buy outlook.

Applied Finance Capital Management LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 96.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,951 shares of the energy exploration company's stock after buying an additional 7,847 shares during the period. Applied Finance Capital Management LLC's holdings in EOG Resources were worth $1,675,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its holdings in EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock worth $6,156,495,000 after acquiring an additional 782,426 shares in the last quarter. Vanguard Group Inc. increased its position in EOG Resources by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock valued at $5,651,172,000 after acquiring an additional 446,341 shares during the last quarter. Capital Research Global Investors increased its position in EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company's stock worth $2,794,784,000 after buying an additional 122,486 shares in the last quarter. Northern Trust Corp increased its position in EOG Resources by 0.8% in the third quarter. Northern Trust Corp now owns 5,974,950 shares of the energy exploration company's stock worth $669,911,000 after buying an additional 49,987 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of EOG Resources by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 5,972,687 shares of the energy exploration company's stock worth $669,727,000 after acquiring an additional 344,291 shares during the period. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Up 3.2%

Shares of EOG Resources stock opened at $140.29 on Friday. The firm has a market capitalization of $74.72 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.69 and a beta of 0.27. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The stock has a 50 day moving average of $136.79 and a 200 day moving average of $119.41.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the prior year, the firm earned $2.87 earnings per share. The firm's revenue was up 22.1% compared to the same quarter last year. As a group, research analysts predict that EOG Resources, Inc. will post 14.83 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

Insider Buying and Selling

In related news, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the sale, the chief operating officer directly owned 88,045 shares of the company's stock, valued at $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,230 shares of company stock valued at $2,522,568. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

EOG has been the subject of several analyst reports. Wolfe Research raised their price objective on EOG Resources from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Capital One Financial lifted their price target on EOG Resources from $130.00 to $161.00 and gave the company an "overweight" rating in a report on Thursday, March 26th. Mizuho raised their price objective on EOG Resources from $147.00 to $149.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Wells Fargo & Company set a $196.00 price target on EOG Resources and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Sanford C. Bernstein set a $155.00 price objective on EOG Resources and gave the company a "market perform" rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and a consensus price target of $154.21.

EOG Resources Profile

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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