EOG Resources, Inc. $EOG Shares Acquired by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in EOG Resources by 42.6%, acquiring a total of 602,581 shares, valued at approximately $77.3 million.
• EOG Resources reported earnings per share of $2.32 for the last quarter, exceeding analysts' expectations, but revenue decreased by 9.1% year-over-year.
• The company announced a quarterly dividend increase to $1.02 per share, representing a 3.4% dividend yield, which will be paid on October 31st.

Korea Investment CORP lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 42.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 602,581 shares of the energy exploration company's stock after purchasing an additional 180,122 shares during the period. Korea Investment CORP owned about 0.11% of EOG Resources worth $77,275,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EOG. Bank Pictet & Cie Europe AG lifted its position in shares of EOG Resources by 56.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after purchasing an additional 89,521 shares in the last quarter. NewEdge Advisors LLC raised its holdings in EOG Resources by 13.7% in the fourth quarter. NewEdge Advisors LLC now owns 19,204 shares of the energy exploration company's stock valued at $2,354,000 after acquiring an additional 2,307 shares in the last quarter. Marshall Wace LLP raised its holdings in EOG Resources by 266.5% in the fourth quarter. Marshall Wace LLP now owns 29,319 shares of the energy exploration company's stock valued at $3,594,000 after acquiring an additional 21,319 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in EOG Resources by 1.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 150,487 shares of the energy exploration company's stock valued at $18,447,000 after acquiring an additional 2,185 shares in the last quarter. Finally, GeoWealth Management LLC raised its holdings in EOG Resources by 27.1% in the fourth quarter. GeoWealth Management LLC now owns 6,795 shares of the energy exploration company's stock valued at $833,000 after acquiring an additional 1,447 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EOG. Susquehanna upped their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. KeyCorp cut their price target on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. UBS Group reaffirmed a "buy" rating and issued a $142.00 price target (up from $140.00) on shares of EOG Resources in a report on Tuesday, August 12th. Raymond James Financial upped their price target on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $140.71.

EOG Resources Stock Down 0.6%

EOG Resources stock opened at $119.06 on Monday. The stock has a market cap of $65.01 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 9.15 and a beta of 0.80. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $120.29 and its two-hundred day moving average price is $119.33. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion for 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 20.51%. The business's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. On average, analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm 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 $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.4%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is presently 37.90%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding EOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EOG Resources, Inc. (NYSE:EOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.