EOG Resources, Inc. (NYSE:EOG) Stake Raised by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its holdings in EOG Resources, Inc. by 10.5% in Q1, now owning approximately $43.45 million worth of shares, equating to about 0.06% of the company's stock.
• The company recently announced a quarterly dividend of $1.02 per share, up from the previous $0.98, reflecting an annualized yield of 3.5%.
• EOG Resources reported EPS of $2.32 for the last quarter, exceeding expectations, although revenue is down 9.1% compared to the previous year.

Benjamin Edwards Inc. grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 338,842 shares of the energy exploration company's stock after purchasing an additional 32,117 shares during the quarter. Benjamin Edwards Inc. owned 0.06% of EOG Resources worth $43,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in EOG Resources during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of EOG Resources during the first quarter worth $34,000. Ameriflex Group Inc. purchased a new position in shares of EOG Resources in the fourth quarter valued at $36,000. 10Elms LLP purchased a new position in EOG Resources in the 4th quarter valued at about $44,000. Finally, Hanson & Doremus Investment Management acquired a new stake in EOG Resources during the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EOG. Barclays upped their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Royal Bank Of Canada cut their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Susquehanna lifted their price target on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. KeyCorp lowered their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $140.71.

EOG Resources Stock Performance

Shares of EOG traded up $1.04 during mid-day trading on Tuesday, reaching $117.88. 2,902,111 shares of the company's stock traded hands, compared to its average volume of 3,657,719. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The business's 50-day moving average price is $119.74 and its 200-day moving average price is $119.65. The stock has a market capitalization of $64.36 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 8.90 and a beta of 0.80. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.16 EPS. Equities analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a dividend of $1.02 per share. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. EOG Resources's payout ratio is presently 37.90%.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company's stock.

About EOG Resources

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.