21,107 Shares in EOG Resources, Inc. $EOG Bought by Element Capital Management LLC

Key Points

• Element Capital Management LLC purchased a new stake of 21,107 shares in EOG Resources worth approximately $2.7 million in Q1.
• Several institutional investors have increased their stakes, with Aberdeen Group plc growing its position by 84.1% during the same period.
• EOG Resources recently raised its quarterly dividend to $1.02 per share, reflecting a positive increase from the previous $0.98 dividend.

Element Capital Management LLC purchased a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 21,107 shares of the energy exploration company's stock, valued at approximately $2,707,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of EOG Resources in the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new stake in shares of EOG Resources in the first quarter valued at $34,000. Ameriflex Group Inc. purchased a new stake in shares of EOG Resources in the fourth quarter valued at $36,000. 10Elms LLP purchased a new stake in shares of EOG Resources in the fourth quarter valued at $44,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of EOG Resources in the first quarter valued at $48,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Susquehanna increased their target price on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Bank of America dropped their price objective on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Mizuho dropped their price objective on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $143.61.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

EOG Resources Stock Up 0.8%

Shares of NYSE EOG traded up $0.9750 during trading hours on Wednesday, hitting $118.2950. The stock had a trading volume of 2,527,504 shares, compared to its average volume of 2,839,869. The company has a market capitalization of $64.59 billion, a P/E ratio of 11.50, a P/E/G ratio of 8.96 and a beta of 0.80. The firm's 50-day moving average price is $120.31 and its two-hundred day moving average price is $119.25. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The company had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. During the same quarter in the previous year, the firm earned $3.16 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's payout ratio is presently 37.90%.

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.