Conning Inc. Increases Holdings in EOG Resources, Inc. $EOG

Key Points

• Conning Inc. increased its stake in EOG Resources by 9.0% in the fourth quarter, adding 24,865 shares to reach 302,028 shares valued at about $31.7 million.
• EOG Resources posted a strong quarterly earnings beat, reporting $3.41 EPS versus $3.23 expected, while revenue came in at $6.92 billion and rose 22.1% year over year.
• The company declared a quarterly dividend of $1.02 per share, equal to an annualized yield of 3.0%, even as analysts maintain a consensus rating of Moderate Buy with a $154.21 target price.

Conning Inc. raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 302,028 shares of the energy exploration company's stock after acquiring an additional 24,865 shares during the quarter. Conning Inc. owned approximately 0.06% of EOG Resources worth $31,716,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. JCIC Asset Management Inc. purchased a new stake in EOG Resources during the third quarter worth approximately $32,000. Olistico Wealth LLC acquired a new stake in EOG Resources during the fourth quarter worth approximately $33,000. Physician Wealth Advisors Inc. raised its holdings in EOG Resources by 103.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company's stock worth $35,000 after purchasing an additional 170 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of EOG Resources during the 3rd quarter worth approximately $37,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Up 0.7%

Shares of NYSE:EOG opened at $135.83 on Friday. The stock has a market cap of $72.35 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.68 and a beta of 0.27. The firm has a fifty day moving average price of $136.54 and a 200 day moving average price of $119.27. 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.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company 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 business posted $2.87 earnings per share. EOG Resources's quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts predict that EOG Resources, Inc. will post 14.76 EPS for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, July 17th. EOG Resources's payout ratio is 40.16%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Roth Mkm reaffirmed a "neutral" rating and issued a $136.00 target price on shares of EOG Resources in a research report on Wednesday, May 6th. Truist Financial upped their price objective on shares of EOG Resources from $146.00 to $149.00 and gave the company a "hold" rating in a research note on Friday, May 8th. Raymond James Financial raised their price objective on EOG Resources from $157.00 to $185.00 and gave the stock a "strong-buy" rating in a report on Friday, March 27th. Mizuho lifted their target price on EOG Resources from $147.00 to $149.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Finally, Zacks Research raised EOG Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seventeen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.21.

Insider Activity at EOG Resources

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the 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 legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 18,230 shares of company stock valued at $2,522,568. 0.14% of the stock is owned by company insiders.

EOG Resources Company 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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