Empower Advisory Group LLC Has $55.34 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Empower Advisory Group LLC increased its ownership of EOG Resources, Inc. by 22.4%, acquiring an additional 78,944 shares during the last quarter, bringing its total to 431,546 shares valued at approximately $55.3 million.
• Analysts have a consensus rating of "Moderate Buy" for EOG Resources, with an average price target of $140.62, as several firms adjusted their price objectives.
• EOG Resources announced a quarterly dividend of $1.02 per share, representing a yield of 3.5%, an increase from its previous dividend of $0.98.

Empower Advisory Group LLC increased its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,546 shares of the energy exploration company's stock after acquiring an additional 78,944 shares during the quarter. Empower Advisory Group LLC owned about 0.08% of EOG Resources worth $55,341,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EOG. Silvercrest Asset Management Group LLC boosted its position in shares of EOG Resources by 14.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after purchasing an additional 106,677 shares in the last quarter. ARGA Investment Management LP raised its stake in EOG Resources by 24.2% during the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after buying an additional 2,616 shares during the period. CWA Asset Management Group LLC raised its stake in EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after buying an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after acquiring an additional 44,687 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after acquiring an additional 8,127 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were 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 directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. KeyCorp lowered their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Royal Bank Of Canada lowered their target price on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $140.00 to $134.00 in a research report on Wednesday, July 9th. 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 report on Tuesday, May 13th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of "Moderate Buy" and an average target price of $140.62.

EOG Resources Stock Up 0.1%

EOG stock traded up $0.12 during mid-day trading on Friday, reaching $116.09. The company had a trading volume of 3,969,060 shares, compared to its average volume of 2,984,186. The company has a market capitalization of $63.36 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 8.88 and a beta of 0.80. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a 50 day simple moving average of $119.48 and a two-hundred day simple moving average of $120.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.46%. The firm's revenue was down 9.1% on a year-over-year basis. During the same period last year, the business earned $3.16 earnings per share. As a group, equities analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.5%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is presently 36.18%.

EOG Resources Profile

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.