EOG Resources, Inc. $EOG Shares Acquired by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP increased its EOG Resources stake by 63.9% in the fourth quarter, bringing its holdings to 908,164 shares valued at about $95.4 million.
• EOG Resources reported strong quarterly results, posting EPS of $3.41 versus the $3.23 consensus and revenue of $6.92 billion, up 22.1% year over year.
• The company declared a quarterly dividend of $1.02 per share, equal to an annualized yield of 2.9%, while analysts currently rate the stock a Moderate Buy with a $155.64 consensus price target.

Cooke & Bieler LP grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 63.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 908,164 shares of the energy exploration company's stock after purchasing an additional 354,191 shares during the period. Cooke & Bieler LP owned about 0.17% of EOG Resources worth $95,366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors lifted its holdings in shares of EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock valued at $6,156,495,000 after purchasing an additional 782,426 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of EOG Resources during the third quarter valued at $87,193,000. Northwestern Mutual Wealth Management Co. raised its position in EOG Resources by 2,410.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 719,426 shares of the energy exploration company's stock valued at $75,547,000 after buying an additional 690,765 shares during the period. TD Asset Management Inc raised its position in EOG Resources by 288.1% during the third quarter. TD Asset Management Inc now owns 892,482 shares of the energy exploration company's stock valued at $100,065,000 after buying an additional 662,539 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in EOG Resources by 140.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,102,999 shares of the energy exploration company's stock worth $115,826,000 after acquiring an additional 644,569 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $141.43 on Tuesday. The business's 50-day simple moving average is $138.07 and its 200-day simple moving average is $121.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The firm has a market cap of $75.33 billion, a price-to-earnings ratio of 13.92 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) 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 firm had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same quarter in the prior year, the business earned $2.87 earnings per share. The company's revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources, Inc. will post 15.67 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. EOG Resources's payout ratio is presently 40.16%.

Insider Activity

In other 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 value 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 represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,230 shares of company stock valued at $2,272,568 in the last three months. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on EOG Resources from $146.00 to $149.00 and gave the company a "hold" rating in a report on Friday, May 8th. BMO Capital Markets upped their price objective on shares of EOG Resources from $140.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Royal Bank Of Canada lifted their target price on shares of EOG Resources from $138.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, April 8th. Stephens lowered their price target on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Finally, UBS Group upped their price target on shares of EOG Resources from $141.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.64.

EOG Resources 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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