Artisan Partners Limited Partnership Has $136.01 Million Holdings in EOG Resources, Inc. $EOG

Key Points

• Artisan Partners increased its stake in EOG Resources by 3.6% in the fourth quarter, ending with 1,295,159 shares valued at about $136.0 million.
• EOG Resources reported strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion topping expectations; revenue also rose 22.1% year over year.
• The company declared a quarterly dividend of $1.02 per share, implying an annualized yield of about 3.1%, while analysts currently rate the stock a Moderate Buy on average.

Artisan Partners Limited Partnership grew its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,295,159 shares of the energy exploration company's stock after acquiring an additional 45,143 shares during the period. Artisan Partners Limited Partnership owned 0.24% of EOG Resources worth $136,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EOG. Legal & General Group Plc raised its stake in shares of EOG Resources by 2.1% during the third quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock worth $380,562,000 after buying an additional 68,888 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of EOG Resources by 66.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company's stock worth $2,073,000 after buying an additional 7,877 shares during the last quarter. L2 Asset Management LLC raised its stake in shares of EOG Resources by 69.6% during the third quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company's stock worth $2,170,000 after buying an additional 7,940 shares during the last quarter. Alberta Investment Management Corp raised its stake in shares of EOG Resources by 254.5% during the third quarter. Alberta Investment Management Corp now owns 19,500 shares of the energy exploration company's stock worth $2,186,000 after buying an additional 14,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company's stock worth $123,451,000 after buying an additional 24,984 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Up 0.0%

NYSE:EOG opened at $132.00 on Wednesday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a market cap of $70.31 billion, a price-to-earnings ratio of 12.99 and a beta of 0.25. The stock has a 50-day moving average price of $136.61 and a two-hundred day moving average price of $124.36.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.87 earnings per share. As a group, equities analysts expect that EOG Resources, Inc. will post 16.63 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 3.1%. EOG Resources's dividend payout ratio is presently 40.16%.

Insider Buying and Selling at EOG Resources

In related news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction on Thursday, March 19th. The shares were 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 owned 100,246 shares in the company, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction 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 transaction, the chief operating officer owned 88,045 shares of the company's stock, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of EOG Resources from $146.00 to $149.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Raymond James Financial boosted their price objective on shares of EOG Resources from $157.00 to $185.00 and gave the company a "strong-buy" rating in a report on Friday, March 27th. Weiss Ratings upgraded shares of EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Morgan Stanley boosted their price objective on shares of EOG Resources from $155.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Finally, Williams Trading set a $177.00 price objective on shares of EOG Resources in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.32.

About EOG Resources

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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