EOG Resources, Inc. $EOG Stake Raised by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its EOG Resources stake by 4.7% in the fourth quarter, adding 8,300 shares to bring its total holdings to 186,500 shares worth about $19.6 million.
• EOG reported stronger-than-expected quarterly results, with EPS of $3.41 beating estimates and revenue of $6.92 billion topping forecasts; revenue also rose 22.1% year over year.
• The company continues to reward shareholders with a quarterly dividend of $1.02 per share, implying a 2.9% yield, while analysts currently rate the stock a consensus Moderate Buy with a $154.21 target price.

Gabelli Funds LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,500 shares of the energy exploration company's stock after buying an additional 8,300 shares during the period. Gabelli Funds LLC's holdings in EOG Resources were worth $19,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Bollard Group LLC raised its holdings in shares of EOG Resources by 0.8% during the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company's stock valued at $1,317,000 after buying an additional 93 shares during the last quarter. Hardy Reed LLC raised its holdings in shares of EOG Resources by 4.5% during the third quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company's stock valued at $254,000 after buying an additional 97 shares during the last quarter. RKL Wealth Management LLC raised its holdings in shares of EOG Resources by 0.5% during the third quarter. RKL Wealth Management LLC now owns 21,235 shares of the energy exploration company's stock valued at $2,381,000 after buying an additional 98 shares during the last quarter. CoreFirst Bank & Trust raised its holdings in shares of EOG Resources by 18.5% during the third quarter. CoreFirst Bank & Trust now owns 640 shares of the energy exploration company's stock valued at $72,000 after buying an additional 100 shares during the last quarter. Finally, Ethos Financial Group LLC raised its holdings in shares of EOG Resources by 2.5% during the fourth quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock valued at $439,000 after buying an additional 100 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $143.03 on Tuesday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The stock has a market cap of $76.18 billion, a price-to-earnings ratio of 14.08 and a beta of 0.27. The stock's 50 day moving average price is $137.03 and its 200 day moving average price is $119.77. 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 (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.18 billion. During the same quarter in the previous year, the company earned $2.87 earnings per share. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that EOG Resources, Inc. will post 14.83 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EOG shares. The Goldman Sachs Group lifted their price target on EOG Resources from $135.00 to $139.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Royal Bank Of Canada boosted their target price on EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Sanford C. Bernstein set a $155.00 target price on EOG Resources and gave the stock a "market perform" rating in a report on Monday, May 11th. DA Davidson boosted their target price on EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Mizuho boosted their target price on EOG Resources from $147.00 to $149.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat, 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 EOG Resources stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 18,230 shares of company stock worth $2,522,568. 0.14% of the stock is currently owned by company insiders.

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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