Concurrent Investment Advisors LLC Raises Stake in EOG Resources, Inc. (NYSE:EOG)

Concurrent Investment Advisors LLC lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 49.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,497 shares of the energy exploration company's stock after purchasing an additional 3,794 shares during the period. Concurrent Investment Advisors LLC's holdings in EOG Resources were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Capital World Investors increased its stake in shares of EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after purchasing an additional 2,270,013 shares during the period. Geode Capital Management LLC increased its stake in shares of EOG Resources by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company's stock worth $1,541,282,000 after purchasing an additional 234,067 shares during the period. Northern Trust Corp increased its stake in shares of EOG Resources by 2.9% during the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock worth $701,036,000 after purchasing an additional 159,216 shares during the period. Alliancebernstein L.P. increased its stake in shares of EOG Resources by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company's stock worth $696,990,000 after purchasing an additional 365,115 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of EOG Resources by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,874,964 shares of the energy exploration company's stock worth $597,476,000 after purchasing an additional 50,896 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of analyst reports. Piper Sandler reduced their price target on EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada reduced their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday. Mizuho cut their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley set a $135.00 price target on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, KeyCorp cut their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.24.

EOG Resources Stock Up 3.6%

Shares of NYSE:EOG traded up $4.31 during mid-day trading on Tuesday, hitting $123.92. 3,753,426 shares of the company traded hands, compared to its average volume of 3,407,196. The stock has a 50-day moving average price of $115.89 and a two-hundred day moving average price of $121.29. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market cap of $67.63 billion, a P/E ratio of 11.50, a P/E/G ratio of 9.94 and a beta of 0.76.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business's revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. On average, equities research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.29%. EOG Resources's payout ratio is presently 36.18%.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

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.