CIBC Asset Management Inc Buys 48,497 Shares of EOG Resources, Inc. $EOG

Key Points

• CIBC Asset Management increased its EOG Resources stake by 54.7% in the fourth quarter, adding 48,497 shares to bring its total to 137,124 shares worth about $14.4 million.
• EOG Resources reported stronger-than-expected results, posting $3.41 EPS on revenue of $6.92 billion, both above analyst estimates and up sharply from a year earlier.
• The company announced a quarterly dividend of $1.02 per share, implying an annualized payout of $4.08 and a yield of 2.9%; analysts currently rate the stock a Moderate Buy with a consensus target of $156.32.

CIBC Asset Management Inc lifted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 54.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,124 shares of the energy exploration company's stock after acquiring an additional 48,497 shares during the period. CIBC Asset Management Inc's holdings in EOG Resources were worth $14,399,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC bought a new stake in shares of EOG Resources in the 4th quarter valued at $33,000. Physician Wealth Advisors Inc. raised its stake in EOG Resources by 103.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company's stock worth $35,000 after buying an additional 170 shares during the period. Laurel Wealth Advisors LLC bought a new position in EOG Resources during the fourth quarter worth about $38,000. City Holding Co. lifted its holdings in EOG Resources by 469.2% during the fourth quarter. City Holding Co. now owns 370 shares of the energy exploration company's stock worth $39,000 after acquiring an additional 305 shares in the last quarter. Finally, Osterweis Capital Management Inc. grew its stake in EOG Resources by 3,790.0% in the second quarter. Osterweis Capital Management Inc. now owns 389 shares of the energy exploration company's stock valued at $47,000 after acquiring an additional 379 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $140.79 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The firm has a market cap of $74.99 billion, a price-to-earnings ratio of 13.86 and a beta of 0.25. The stock's 50-day moving average is $137.97 and its 200-day moving average is $122.71. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. During the same quarter in the previous year, the business posted $2.87 EPS. The business's quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts predict that EOG Resources, Inc. will post 15.67 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's payout ratio is currently 40.16%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EOG. Zacks Research downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Stephens cut their price objective on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Williams Trading set a $177.00 price objective on EOG Resources in a research report on Monday, April 20th. Wall Street Zen raised EOG Resources from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, UBS Group raised their target price on shares of EOG Resources from $141.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.32.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the firm's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares of the company's stock, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,456 shares of company stock valued at $1,788,033 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

EOG Resources Profile

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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