Cibc World Market Inc. Boosts Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Cibc World Market Inc. increased its stake in EOG Resources by 80.3% in the fourth quarter, ending with 375,878 shares valued at about $39.5 million.
• Analysts have recently grown more upbeat on EOG, with several firms raising price targets and the stock now holding a consensus “Moderate Buy” rating with a $156.32 target.
• EOG reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $1.02 per share to be paid July 31.

Cibc World Market Inc. raised its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 80.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 375,878 shares of the energy exploration company's stock after acquiring an additional 167,447 shares during the period. Cibc World Market Inc. owned approximately 0.07% of EOG Resources worth $39,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Olistico Wealth LLC acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $33,000. Physician Wealth Advisors Inc. boosted 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 valued at $35,000 after acquiring an additional 170 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in EOG Resources in the fourth quarter valued at about $38,000. City Holding Co. grew its position in shares of EOG Resources by 469.2% in the 4th 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. increased its holdings in shares of EOG Resources by 3,790.0% in the 2nd 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 last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on EOG Resources from $145.00 to $148.00 in a research report on Thursday, May 7th. DA Davidson lifted their price target on EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Wolfe Research increased their price objective on EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Wall Street Zen raised EOG Resources from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, UBS Group upped their price target on shares of EOG Resources from $141.00 to $149.00 and gave the company a "buy" rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.32.

EOG Resources Stock Performance

Shares of EOG opened at $140.79 on Friday. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The company has a market cap of $74.99 billion, a PE ratio of 13.86 and a beta of 0.25. The firm has a 50-day moving average of $137.97 and a 200-day moving average of $122.71. 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 (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the firm earned $2.87 EPS. The firm's revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts forecast that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the sale, 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the sale, the chief operating officer owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. The trade was a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,456 shares of company stock worth $1,788,033. 0.14% of the stock is owned by corporate insiders.

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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