EOG Resources, Inc. (NYSE:EOG) Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP increased its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,441 shares of the energy exploration company's stock after acquiring an additional 2,616 shares during the period. ARGA Investment Management LP's holdings in EOG Resources were worth $1,724,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EOG. Bank Pictet & Cie Europe AG lifted its stake in EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after acquiring an additional 89,521 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in EOG Resources during the 4th quarter worth about $492,000. Vestmark Advisory Solutions Inc. purchased a new stake in EOG Resources during the 4th quarter worth about $281,000. Callan Family Office LLC purchased a new stake in EOG Resources during the 4th quarter worth about $374,000. Finally, Banco Santander S.A. increased its holdings in EOG Resources by 49.6% during the 4th quarter. Banco Santander S.A. now owns 5,302 shares of the energy exploration company's stock worth $650,000 after purchasing an additional 1,757 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $119.77 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The business has a fifty day simple moving average of $115.89 and a 200 day simple moving average of $121.29. The firm has a market cap of $65.37 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 9.94 and a beta of 0.76.

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

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Analyst Ratings Changes

Several equities research analysts have weighed in on EOG shares. Raymond James Financial upped their price target on EOG Resources from $148.00 to $158.00 and gave the stock a "strong-buy" rating in a report on Monday, June 2nd. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. JPMorgan Chase & Co. dropped their price objective on EOG Resources from $149.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Mizuho dropped their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.48.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

EOG Resources Company 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.

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