EOG Resources, Inc. (NYSE:EOG) Holdings Raised by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its position in EOG Resources by 23.8%, now holding 214,477 shares valued at approximately $27.5 million.
• The company has also announced an increase in its quarterly dividend to $1.02 per share, reflecting a positive change from the previous $0.98.
• Analysts have mixed evaluations for EOG Resources, with Barclays raising their target price to $140, while others have set lower target prices and neutral ratings.

Mackenzie Financial Corp lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 214,477 shares of the energy exploration company's stock after buying an additional 41,259 shares during the period. Mackenzie Financial Corp's holdings in EOG Resources were worth $27,505,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in EOG Resources in the 1st quarter valued at about $34,000. Ameriflex Group Inc. bought a new position in shares of EOG Resources during the fourth quarter worth about $36,000. 10Elms LLP bought a new position in shares of EOG Resources during the fourth quarter worth about $44,000. Hanson & Doremus Investment Management bought a new position in shares of EOG Resources during the first quarter worth about $51,000. Finally, Golden State Wealth Management LLC lifted its position in shares of EOG Resources by 204.4% during the first quarter. Golden State Wealth Management LLC now owns 411 shares of the energy exploration company's stock worth $53,000 after purchasing an additional 276 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's 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 completion of the transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

EOG Resources Price Performance

NYSE:EOG traded down $1.14 during trading hours on Thursday, reaching $120.10. 2,657,234 shares of the company's stock were exchanged, compared to its average volume of 2,769,151. The company has a market capitalization of $65.55 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 9.31 and a beta of 0.76. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. The business's 50-day simple moving average is $118.83 and its two-hundred day simple moving average is $120.78.

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

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 dividend on an annualized basis and a yield of 3.4%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James Financial increased their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. KeyCorp dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Barclays raised their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, Susquehanna raised their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $140.62.

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.