Berger Financial Group Inc Invests $5.53 Million in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Berger Financial Group Inc. acquired a new stake in EOG Resources, purchasing 43,137 shares valued at about $5.53 million.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, reflecting an annualized yield of 3.5% with payment scheduled for October 31st.
• Analysts have upgraded EOG Resources, resulting in varied price targets, with a consensus rating of "Moderate Buy" and a target price around $140.62.

Berger Financial Group Inc purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,137 shares of the energy exploration company's stock, valued at approximately $5,532,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Capital World Investors boosted its stake in EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares in the last quarter. GAMMA Investing LLC boosted its stake in EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after purchasing an additional 1,272,765 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Deutsche Bank AG boosted its stake in EOG Resources by 58.6% during the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after purchasing an additional 769,362 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in EOG Resources by 134.7% during the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock valued at $158,720,000 after purchasing an additional 743,202 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Up 0.9%

Shares of NYSE:EOG traded up $1.04 during midday trading on Tuesday, hitting $117.88. 2,902,111 shares of the stock were exchanged, 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. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The business's fifty day simple moving average is $119.74 and its two-hundred day simple moving average is $119.65. The company has a market capitalization of $64.36 billion, a PE ratio of 11.46, a P/E/G ratio of 8.90 and a beta of 0.80.

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

EOG Resources Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EOG. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. KeyCorp reduced their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Susquehanna raised their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $140.71.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction dated 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 directly owned 45,739 shares in the company, 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 SEC, which is accessible through this hyperlink. 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.