Summit Global Investments Acquires 7,808 Shares of EOG Resources, Inc. (NYSE:EOG)

Summit Global Investments raised its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 28.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,119 shares of the energy exploration company's stock after acquiring an additional 7,808 shares during the quarter. Summit Global Investments' holdings in EOG Resources were worth $4,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of EOG Resources in the 4th quarter valued at $25,000. Y.D. More Investments Ltd lifted its stake in shares of EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company's stock valued at $25,000 after acquiring an additional 121 shares during the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of EOG Resources during the fourth quarter valued at about $25,000. Keystone Financial Group Inc. acquired a new stake in shares of EOG Resources during the fourth quarter valued at about $27,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of EOG Resources during the fourth quarter valued at about $28,000. Institutional investors own 89.91% of the company's stock.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on EOG shares. Raymond James reiterated a "strong-buy" rating on shares of EOG Resources in a research report on Tuesday, May 20th. Citigroup cut their price target on shares of EOG Resources from $134.00 to $125.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Barclays cut their target price on EOG Resources from $140.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. UBS Group cut their target price on EOG Resources from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley raised their price objective on EOG Resources from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EOG Resources has a consensus rating of "Moderate Buy" and an average price target of $139.79.

EOG Resources Trading Down 1.2%

EOG stock traded down $1.34 during mid-day trading on Friday, reaching $108.54. The company's stock had a trading volume of 5,535,455 shares, compared to its average volume of 3,280,223. The company has a market cap of $59.24 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The business's 50 day moving average price is $113.11 and its 200 day moving average price is $123.22. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. EOG Resources's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 EPS. On average, equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 3.59%. The ex-dividend date is Thursday, July 17th. EOG Resources's dividend payout ratio (DPR) is currently 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.