Charles Schwab Investment Management Inc. Has $2.49 Billion Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 6.5%, owning nearly 19.4 million shares, valued at approximately $2.49 billion.
• The company announced a quarterly dividend increase to $1.02 per share, marking a positive change from the previous quarterly amount of $0.98, with a dividend yield of 3.5%.
• Analysts have varied price targets for EOG Resources, with an average target price of $140.62, indicating a generally positive outlook with 9 buy ratings and 12 hold ratings.

Charles Schwab Investment Management Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,380,866 shares of the energy exploration company's stock after buying an additional 1,188,552 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.55% of EOG Resources worth $2,485,402,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. acquired a new stake in shares of EOG Resources during the 4th quarter worth approximately $36,000. 10Elms LLP acquired a new stake in shares of EOG Resources during the 4th quarter worth approximately $44,000. Finally, Hanson & Doremus Investment Management acquired a new stake in EOG Resources in the 1st quarter valued at $51,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Analysts Set New Price Targets

EOG has been the subject of several research reports. Mizuho reduced 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 report on Tuesday, May 13th. Susquehanna lifted their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Raymond James Financial lifted their price target on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.62.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $116.68 on Thursday. The stock has a market cap of $63.68 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 9.02 and a beta of 0.80. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The stock's fifty day simple moving average is $119.36 and its two-hundred day simple moving average is $120.23.

EOG Resources Increases Dividend

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

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