EOG Resources, Inc. $EOG Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in EOG Resources by 20.6% during the first quarter, owning 119,600 shares valued at $15.34 million.
• EOG Resources recently posted earnings of $2.32 per share, surpassing the consensus estimate of $2.14, although revenue fell 9.1% year-over-year.
• The company announced an increase in its quarterly dividend to $1.02 per share, representing an annualized dividend yield of 3.5%.

BI Asset Management Fondsmaeglerselskab A S boosted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 20.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,600 shares of the energy exploration company's stock after purchasing an additional 20,464 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in EOG Resources were worth $15,338,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EOG. Banque Cantonale Vaudoise bought a new position in EOG Resources in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of EOG Resources during the first quarter worth about $34,000. Ameriflex Group Inc. purchased a new stake in shares of EOG Resources during the fourth quarter worth about $36,000. 10Elms LLP purchased a new stake in shares of EOG Resources during the fourth quarter worth about $44,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of EOG Resources during the first quarter worth about $48,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

NYSE EOG traded up $2.3950 during trading hours on Friday, reaching $120.9050. The stock had a trading volume of 2,245,946 shares, compared to its average volume of 2,796,382. 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 stock has a fifty day moving average of $120.18 and a 200 day moving average of $119.09. The stock has a market cap of $66.01 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 9.25 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 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 for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the firm posted $3.16 EPS. The business's quarterly revenue was down 9.1% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.4%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's payout ratio is currently 37.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EOG. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. UBS Group boosted their price target on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research note on Wednesday. Mizuho dropped their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Finally, Morgan Stanley set a $135.00 target price on EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and an average target price of $143.61.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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.