EOG Resources, Inc. $EOG Stock: Bank Julius Baer & Co. Ltd Zurich Grows Stake

Key Points

• Bank Julius Baer increased its EOG Resources stake by 2.1% in the third quarter to 824,699 shares worth approximately $113.9 million. Institutional investors and hedge funds collectively own 89.91% of EOG’s shares.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. The company also pays a quarterly dividend of $1.02, equivalent to a 2.5% yield.
• Analyst sentiment is mixed: EOG has an average “Hold” rating and a consensus price target of $161.24, below its reported share price of $165.58. Company insiders sold more than 52,000 shares worth $7.8 million during the last quarter.

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 824,699 shares of the energy exploration company's stock after buying an additional 17,188 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.16% of EOG Resources worth $113,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EOG. BlackRock Inc. acquired a new stake in shares of EOG Resources during the 2nd quarter worth about $5,905,587,000. Bank of New York Mellon Corp acquired a new position in EOG Resources in the 2nd quarter worth $654,899,000. Bank of America Corp DE bought a new stake in EOG Resources during the second quarter worth about $551,321,000. Deutsche Bank AG bought a new position in shares of EOG Resources during the 2nd quarter worth approximately $251,102,000. Finally, Robeco Institutional Asset Management B.V. increased its position in EOG Resources by 357.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company's stock worth $271,641,000 after buying an additional 1,541,140 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $165.58 on Monday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $165.93. The stock has a market capitalization of $86.85 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.58 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The business has a 50-day moving average of $149.06 and a 200 day moving average of $136.76.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter last year, the business earned $2.32 EPS. EOG Resources's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 17.70 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were issued a $1.02 dividend. The ex-dividend date of this dividend was Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.5%. EOG Resources's payout ratio is 31.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EOG. Raymond James Financial reissued a "strong-buy" rating and set a $186.00 target price (up from $183.00) on shares of EOG Resources in a report on Thursday, September 17th. Roth Capital reaffirmed a "neutral" rating and set a $138.00 price target on shares of EOG Resources in a research report on Wednesday, August 5th. Morgan Stanley upped their target price on EOG Resources from $157.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 15th. Weiss Ratings raised shares of EOG Resources from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, September 8th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $151.00 price objective (up from $127.00) on shares of EOG Resources in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have issued a Hold rating to the company's stock. Based on data from MarketBeat, EOG Resources currently has an average rating of "Hold" and a consensus price target of $161.24.

Insider Activity

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares of the company's stock, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 7,336 shares of EOG Resources stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the transaction, the executive vice president owned 100,558 shares of the company's stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,317 shares of company stock valued at $7,823,480 in the last quarter. Company insiders own 0.14% of the company's stock.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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