EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC grew its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 131.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,223 shares of the energy exploration company's stock after acquiring an additional 5,234 shares during the quarter. Bourgeon Capital Management LLC's holdings in EOG Resources were worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors grew its stake in shares of EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after buying an additional 2,270,013 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of EOG Resources by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company's stock worth $2,230,014,000 after acquiring an additional 781,282 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock valued at $1,541,282,000 after buying an additional 234,067 shares in the last quarter. Northern Trust Corp increased its position in shares of EOG Resources by 2.9% during the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock worth $701,036,000 after purchasing an additional 159,216 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company's stock valued at $696,990,000 after buying an additional 365,115 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EOG shares. Morgan Stanley boosted their price target on EOG Resources from $132.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday. Citigroup reduced their price target on shares of EOG Resources from $134.00 to $125.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada raised shares of EOG Resources from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Bank of America cut their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Mizuho dropped their price target on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of "Moderate Buy" and an average target price of $139.58.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company's stock.

EOG Resources Stock Down 1.7%

EOG stock traded down $1.93 during mid-day trading on Wednesday, reaching $110.89. The company had a trading volume of 3,333,912 shares, compared to its average volume of 3,284,066. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a market capitalization of $60.52 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The firm has a fifty day simple moving average of $112.48 and a 200 day simple moving average of $122.82.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the company posted $2.82 earnings per share. The firm's quarterly revenue was down 7.4% compared to the same quarter last year. Analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.68%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

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.