EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in EOG Resources by 275.9%, holding 3,804 shares valued at $488,000 after purchasing 2,792 additional shares in the first quarter.
• EOG Resources announced a quarterly dividend of $1.02 per share, up from the previous $0.98, representing an annualized yield of 3.36%.
• Despite positive earnings with an EPS of $2.87 exceeding expectations, EOG Resources reported a 7.4% decline in revenue year-over-year.

Bayforest Capital Ltd raised its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 275.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,804 shares of the energy exploration company's stock after buying an additional 2,792 shares during the period. Bayforest Capital Ltd's holdings in EOG Resources were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hancock Whitney Corp increased its stake in shares of EOG Resources by 5.7% in the 4th quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock worth $211,000 after purchasing an additional 92 shares in the last quarter. FSM Wealth Advisors LLC increased its stake in shares of EOG Resources by 6.2% in the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares in the last quarter. Sigma Planning Corp increased its stake in shares of EOG Resources by 1.6% in the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after purchasing an additional 97 shares in the last quarter. Advisor OS LLC increased its stake in shares of EOG Resources by 3.7% in the 1st quarter. Advisor OS LLC now owns 2,853 shares of the energy exploration company's stock worth $366,000 after purchasing an additional 102 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its stake in shares of EOG Resources by 2.2% in the 1st quarter. Ameritas Advisory Services LLC now owns 5,016 shares of the energy exploration company's stock worth $641,000 after purchasing an additional 106 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred 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 directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

EOG Resources Stock Down 2.8%

EOG stock traded down $3.38 during trading on Friday, hitting $116.64. 2,688,978 shares of the company's stock traded hands, compared to its average volume of 2,830,165. The firm has a market capitalization of $63.66 billion, a P/E ratio of 10.82, a PEG ratio of 9.22 and a beta of 0.80. The business has a fifty day simple moving average of $118.96 and a two-hundred day simple moving average of $120.65. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. EOG Resources's revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company posted $2.82 earnings per share. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.5%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources's payout ratio is 36.18%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Raymond James Financial upped their target price on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada dropped their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Stephens assumed coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 target price for the company. KeyCorp dropped their target price on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, 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. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.62.

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.