Sound Shore Management Inc. CT Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Sound Shore Management Inc. CT boosted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 41.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 724,357 shares of the energy exploration company's stock after buying an additional 211,473 shares during the quarter. EOG Resources makes up about 3.3% of Sound Shore Management Inc. CT's holdings, making the stock its 7th largest position. Sound Shore Management Inc. CT owned about 0.13% of EOG Resources worth $92,892,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC boosted its stake in 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 valued at $101,256,000 after buying an additional 106,677 shares during the period. ARGA Investment Management LP lifted its stake in EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after purchasing an additional 2,616 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake 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 purchasing an additional 44,687 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in EOG Resources by 4.7% during the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after purchasing an additional 8,127 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on EOG. Roth Capital downgraded EOG Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Bank of America decreased their price objective on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Susquehanna lifted their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday. Barclays lifted their price objective on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Finally, KeyCorp decreased their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources Stock Down 0.6%

Shares of EOG traded down $0.68 during mid-day trading on Friday, reaching $118.38. The company had a trading volume of 1,785,285 shares, compared to its average volume of 3,000,766. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. The firm has a 50-day moving average price of $118.08 and a 200 day moving average price of $121.04. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a market capitalization of $64.61 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 9.15 and a beta of 0.76.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The firm had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the previous year, the firm posted $2.82 EPS. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.45%. EOG Resources's dividend payout ratio is 36.18%.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.

About EOG Resources

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.