Westover Capital Advisors LLC Raises Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Westover Capital Advisors LLC increased its stake in EOG Resources by 101.1%, now owning 31,506 shares valued at approximately $4,040,000.
• The company's stock has seen ratings fluctuations, with twelve analysts issuing a hold rating, while nine assigned buy ratings, leading to an average rating of "Moderate Buy" with a price target of $140.62.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, reflecting a 3.42% yield, to be paid on October 31st.

Westover Capital Advisors LLC raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 101.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,506 shares of the energy exploration company's stock after purchasing an additional 15,837 shares during the period. EOG Resources makes up about 0.9% of Westover Capital Advisors LLC's investment portfolio, making the stock its 29th largest holding. Westover Capital Advisors LLC's holdings in EOG Resources were worth $4,040,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG boosted its stake in shares of EOG Resources by 56.3% in 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 buying an additional 89,521 shares during the last quarter. LPL Financial LLC lifted its position in shares of EOG Resources by 12.5% during the 4th quarter. LPL Financial LLC now owns 464,681 shares of the energy exploration company's stock valued at $56,961,000 after buying an additional 51,487 shares in the last quarter. Penobscot Investment Management Company Inc. raised its holdings in EOG Resources by 2.0% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock valued at $498,000 after acquiring an additional 80 shares during the period. Heritage Wealth Advisors raised its holdings in EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company's stock valued at $30,000 after acquiring an additional 208 shares during the period. Finally, Korea Investment CORP raised its holdings in EOG Resources by 12.2% during the fourth quarter. Korea Investment CORP now owns 422,459 shares of the energy exploration company's stock valued at $51,785,000 after acquiring an additional 45,840 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale 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 Stock Down 0.4%

EOG Resources stock traded down $0.48 during mid-day trading on Tuesday, reaching $121.17. 674,733 shares of the company were exchanged, compared to its average volume of 3,681,741. The business has a fifty day moving average of $118.23 and a 200 day moving average of $120.86. 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 firm has a market cap of $66.13 billion, a P/E ratio of 11.23, a PEG ratio of 9.10 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.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 EPS 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 firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. Research analysts anticipate 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 issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio is currently 36.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EOG shares. Stephens started coverage on EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 target price on the stock. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Susquehanna lifted their target price on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reduced their target price on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. 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 report 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, the stock presently has an average rating of "Moderate Buy" and a consensus 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.