EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its stake in EOG Resources by 21.2%, owning approximately 0.10% of the company worth $70.6 million after acquiring 96,341 shares in the first quarter.
• Multiple institutional investors have significantly raised their holdings in EOG Resources, with Capital World Investors and others making notable increases in the fourth quarter.
• EOG Resources announced a quarterly dividend increase to $1.02, up from $0.98, with the dividend yield now at 3.5%.

Mitsubishi UFJ Trust & Banking Corp increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 550,584 shares of the energy exploration company's stock after acquiring an additional 96,341 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of EOG Resources worth $70,607,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EOG. Capital World Investors increased its holdings in shares of EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares during the period. GAMMA Investing LLC increased its holdings in shares of EOG Resources by 14,784.1% in the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after acquiring an additional 1,272,765 shares during the period. Deutsche Bank AG increased its stake in EOG Resources by 58.6% during the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after buying an additional 769,362 shares during the period. AQR Capital Management LLC increased its stake in EOG Resources by 134.7% during the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock valued at $158,720,000 after buying an additional 743,202 shares during the period. Finally, Demars Financial Group LLC increased its stake in EOG Resources by 12,422.5% during the 4th quarter. Demars Financial Group LLC now owns 643,156 shares of the energy exploration company's stock valued at $78,838,000 after buying an additional 638,020 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Activity at EOG Resources

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 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 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on EOG shares. KeyCorp lowered their target price 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. Raymond James Financial raised their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. UBS Group reissued a "buy" rating and set a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Bank of America lowered their target price on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $140.62.

EOG Resources Stock Performance

Shares of EOG opened at $116.64 on Friday. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The company has a 50-day moving average of $118.96 and a two-hundred day moving average of $120.54. The stock has a market cap of $63.66 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 8.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71.

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

EOG Resources Increases Dividend

The company 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 $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 annualized dividend and a dividend yield of 3.5%. EOG Resources's dividend payout ratio is 36.18%.

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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