Capital World Investors Buys 782,426 Shares of EOG Resources, Inc. $EOG

Key Points

• Capital World Investors raised its stake in EOG Resources by 1.4%, buying 782,426 shares to own 54,907,949 shares (about 10.06% of the company) worth ~$6.16 billion, and institutional investors now hold ~89.91% of the stock.
• EOG beat quarterly expectations with EPS of $2.27 vs. $2.20 and revenue of $5.64B vs. $5.36B, reporting a net margin of 22.0% and ROE of 18.67%.
• The company announced a quarterly dividend of $1.02 (annualized $4.08) for a yield of ~3.1% and a payout ratio of ~44.8%, while analysts have an average target price of $135.77 and an overall consensus of "Hold."

Capital World Investors increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,907,949 shares of the energy exploration company's stock after buying an additional 782,426 shares during the period. EOG Resources accounts for approximately 0.8% of Capital World Investors' investment portfolio, making the stock its 26th biggest holding. Capital World Investors owned about 10.06% of EOG Resources worth $6,156,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BW Gestao de Investimentos Ltda. acquired a new stake in EOG Resources in the 3rd quarter valued at $1,737,000. Capital International Inc. CA raised its position in EOG Resources by 9.5% in the 3rd quarter. Capital International Inc. CA now owns 457,145 shares of the energy exploration company's stock valued at $51,255,000 after buying an additional 39,844 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of EOG Resources by 2.1% in the third quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company's stock valued at $380,562,000 after purchasing an additional 68,888 shares during the last quarter. Fieldview Capital Management LLC bought a new stake in EOG Resources in the 3rd quarter worth about $800,000. Finally, WINTON GROUP Ltd boosted its stake in shares of EOG Resources by 11.8% in the 3rd quarter. WINTON GROUP Ltd now owns 19,933 shares of the energy exploration company's stock worth $2,235,000 after buying an additional 2,100 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

Shares of NYSE EOG opened at $131.48 on Tuesday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $134.36. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $70.54 billion, a P/E ratio of 14.43 and a beta of 0.44. The stock's 50-day simple moving average is $114.32 and its two-hundred day simple moving average is $112.17.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The firm had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the firm earned $2.74 EPS. The business's revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a $1.02 dividend. The ex-dividend date is Thursday, April 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. EOG Resources's payout ratio is currently 44.79%.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the transaction, the chief operating officer owned 61,481 shares in the company, valued at approximately $7,685,125. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 7,774 shares of company stock valued at $945,895. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

EOG has been the topic of several research reports. Scotiabank set a $123.00 price objective on shares of EOG Resources and gave the stock a "sector perform" rating in a research report on Friday, January 16th. UBS Group boosted their price objective on EOG Resources from $141.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Zacks Research upgraded shares of EOG Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. Capital One Financial reduced their target price on shares of EOG Resources from $131.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, January 8th. Finally, Barclays lowered their price target on shares of EOG Resources from $136.00 to $133.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $135.77.

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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