Denali Advisors LLC Purchases 3,000 Shares of EOG Resources, Inc. (NYSE:EOG)

Denali Advisors LLC increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 71.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,200 shares of the energy exploration company's stock after purchasing an additional 3,000 shares during the quarter. Denali Advisors LLC's holdings in EOG Resources were worth $923,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC grew its holdings 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 worth $101,256,000 after acquiring an additional 106,677 shares during the period. ARGA Investment Management LP boosted its position 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 in the last quarter. CWA Asset Management Group LLC boosted its position 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position 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 in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EOG shares. Jefferies Financial Group restated a "buy" rating and issued a $148.00 price objective (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Scotiabank upgraded EOG Resources from a "sector perform" rating to a "sector outperform" rating and dropped their price target for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. Stephens assumed coverage on EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price target for the company. Finally, Bank of America dropped their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $139.81.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

Shares of EOG Resources stock traded up $1.49 on Tuesday, reaching $117.98. 1,027,185 shares of the company were exchanged, compared to its average volume of 3,423,023. 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 company's 50-day moving average is $117.82 and its two-hundred day moving average is $121.26. The firm has a market cap of $64.39 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 9.22 and a beta of 0.76. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

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

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.46%. EOG Resources's payout ratio is presently 37.85%.

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.