Berger Financial Group Inc Buys 11,488 Shares of EOG Resources, Inc. $EOG

Key Points

• Berger Financial Group increased its stake in EOG Resources by 26.5% in the first quarter, buying 11,488 additional shares and bringing its total holding to 54,914 shares worth about $7.94 million.
• EOG Resources reported stronger-than-expected quarterly results, with EPS of $3.41 beating estimates and revenue rising 22.1% year over year to $6.92 billion.
• The company also announced a quarterly dividend of $1.02 per share, implying a 3.1% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $155.25.

Berger Financial Group Inc lifted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,914 shares of the energy exploration company's stock after buying an additional 11,488 shares during the quarter. Berger Financial Group Inc's holdings in EOG Resources were worth $7,939,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of EOG Resources by 24.2% in the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company's stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the period. First Trust Advisors LP increased its stake in EOG Resources by 70.5% in the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company's stock worth $312,711,000 after acquiring an additional 1,231,366 shares during the last quarter. Marshall Wace LLP increased its stake in EOG Resources by 474.7% in the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company's stock worth $138,430,000 after acquiring an additional 1,088,867 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of EOG Resources by 23.9% in the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company's stock valued at $490,394,000 after acquiring an additional 901,897 shares in the last quarter. Finally, 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 valued at $6,156,495,000 after acquiring an additional 782,426 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Up 0.0%

Shares of EOG opened at $130.81 on Friday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The stock has a 50 day simple moving average of $135.71 and a two-hundred day simple moving average of $126.27. The firm has a market cap of $69.67 billion, a P/E ratio of 12.87 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the business posted $2.87 EPS. The business's quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts forecast that EOG Resources, Inc. will post 16.23 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EOG shares. Zacks Research downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. The Goldman Sachs Group cut their price target on shares of EOG Resources from $139.00 to $129.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group reissued a "buy" rating and issued a $175.00 price target (up from $170.00) on shares of EOG Resources in a report on Thursday. Wall Street Zen raised shares of EOG Resources from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Raymond James Financial lowered their price objective on shares of EOG Resources from $186.00 to $176.00 and set a "strong-buy" rating on the stock in a research report on Monday, June 22nd. One investment 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 stock. According to data from MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and an average price target of $155.25.

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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