Baker Avenue Asset Management LP Has $10.94 Million Holdings in EOG Resources, Inc. $EOG

Key Points

• Baker Avenue Asset Management increased its stake in EOG Resources by 30.5% in the fourth quarter, ending with 104,179 shares valued at about $10.94 million.
• EOG Resources reported strong quarterly results, posting $3.41 EPS versus $3.23 expected and revenue of $6.92 billion versus $6.18 billion forecast, while revenue rose 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, implying a 3.0% yield, while analysts currently rate the stock a Moderate Buy with an average target price of $156.39.

Baker Avenue Asset Management LP lifted its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 30.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,179 shares of the energy exploration company's stock after buying an additional 24,348 shares during the period. Baker Avenue Asset Management LP's holdings in EOG Resources were worth $10,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EOG. Capital World Investors raised its holdings in shares of EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock worth $6,156,495,000 after buying an additional 782,426 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of EOG Resources in the 3rd quarter worth approximately $87,193,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of EOG Resources by 2,410.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719,426 shares of the energy exploration company's stock worth $75,547,000 after buying an additional 690,765 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of EOG Resources by 288.1% in the 3rd quarter. TD Asset Management Inc now owns 892,482 shares of the energy exploration company's stock worth $100,065,000 after buying an additional 662,539 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of EOG Resources by 140.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,102,999 shares of the energy exploration company's stock worth $115,826,000 after buying an additional 644,569 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Down 1.4%

Shares of EOG opened at $134.30 on Thursday. The firm has a market capitalization of $71.53 billion, a price-to-earnings ratio of 13.22 and a beta of 0.27. 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 business's fifty day moving average price is $138.12 and its two-hundred day moving average price is $121.47. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $2.87 EPS. On average, analysts predict that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is currently 40.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EOG. BMO Capital Markets increased their target price on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. Citigroup reaffirmed a "neutral" rating and set a $147.00 price target (up from $142.00) on shares of EOG Resources in a report on Wednesday, May 20th. Barclays raised their price target on EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. Capital One Financial raised 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. Finally, Scotiabank raised their price target on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $156.39.

Insider Buying and Selling at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of the firm's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the firm's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,230 shares of company stock worth $2,272,568 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

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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