Bank of Nova Scotia Has $23.79 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Bank of Nova Scotia lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 69.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 185,520 shares of the energy exploration company's stock after selling 430,652 shares during the period. Bank of Nova Scotia's holdings in EOG Resources were worth $23,791,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Silvercrest Asset Management Group LLC boosted its position in EOG Resources by 14.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after acquiring an additional 106,677 shares during the last quarter. ARGA Investment Management LP boosted its position in shares of EOG Resources by 24.2% during the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after purchasing an additional 2,616 shares in the last quarter. CWA Asset Management Group LLC grew its stake in EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc increased its holdings in EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after purchasing an additional 8,127 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Down 2.8%

EOG Resources stock opened at $116.64 on Monday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The stock has a market cap of $63.66 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 8.96 and a beta of 0.80. The firm's 50-day simple moving average is $118.96 and its 200 day simple moving average is $120.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The firm had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the firm earned $2.82 EPS. The company's quarterly revenue was down 7.4% compared to the same quarter last year. Research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio is 36.18%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EOG shares. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Scotiabank upgraded shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the company from $150.00 to $130.00 in a research report on Friday, April 11th. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Bank of America dropped their price objective on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.62.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction on 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 owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company's stock.

EOG Resources 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.

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