CI Investments Inc. Has $10.59 Million Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• CI Investments Inc. cut its EOG Resources stake by 14.1% in the first quarter, leaving it with 73,225 shares valued at about $10.59 million.
• EOG Resources reported strong quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion topping expectations; revenue rose 22.1% from a year earlier.
• The company declared a quarterly dividend of $1.02 per share, equal to an annualized yield of about 2.8%, while analysts currently rate the stock Moderate Buy with an average target price of $155.32.

CI Investments Inc. trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 14.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,225 shares of the energy exploration company's stock after selling 11,972 shares during the period. CI Investments Inc.'s holdings in EOG Resources were worth $10,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in EOG. Franklin Resources Inc. lifted its position in shares of EOG Resources by 24.2% in the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company's stock valued at $676,627,000 after buying an additional 1,257,110 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of EOG Resources by 70.5% during the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company's stock worth $312,711,000 after acquiring an additional 1,231,366 shares during the last quarter. Marshall Wace LLP raised its stake in EOG Resources by 474.7% in the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company's stock valued at $138,430,000 after acquiring an additional 1,088,867 shares during the period. Bank of New York Mellon Corp lifted its holdings in EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company's stock valued at $490,394,000 after purchasing an additional 901,897 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in EOG Resources during the third quarter worth $87,193,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Up 0.5%

Shares of NYSE EOG opened at $144.16 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The stock has a market capitalization of $76.78 billion, a P/E ratio of 14.19 and a beta of 0.25. The company has a 50-day moving average price of $136.44 and a 200-day moving average price of $129.52.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the previous year, the firm posted $2.87 earnings per share. The company's revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources's payout ratio is presently 40.16%.

Analyst Upgrades and Downgrades

EOG has been the topic of several research reports. UBS Group decreased their target price on EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 2nd. Scotiabank upped their price objective on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Truist Financial reduced their target price on shares of EOG Resources from $149.00 to $134.00 and set a "hold" rating for the company in a research report on Wednesday, July 1st. DA Davidson raised their price target on shares of EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company set a $196.00 price objective on shares of EOG Resources and gave the company an "overweight" rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $155.32.

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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