Aberdeen Group plc Boosts Holdings in EOG Resources, Inc. $EOG

Key Points

• Aberdeen Group plc has increased its stake in EOG Resources by 84.1%, owning 324,826 shares valued at approximately $41.9 million as of the latest SEC filing.
• EOG Resources has announced a quarterly dividend increase to $1.02 per share, with a yield of 3.4%, showing positive growth from the previous dividend of $0.98.
• The company's latest earnings report shows $2.32 EPS, exceeding analyst expectations and indicating a solid net margin of 25.25%, despite a year-over-year revenue decline of 9.1%.

Aberdeen Group plc grew its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 84.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 324,826 shares of the energy exploration company's stock after buying an additional 148,382 shares during the period. Aberdeen Group plc owned 0.06% of EOG Resources worth $41,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EOG. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the first quarter worth $34,000. Ameriflex Group Inc. acquired a new stake in shares of EOG Resources in the fourth quarter worth $36,000. 10Elms LLP acquired a new stake in shares of EOG Resources in the fourth quarter worth $44,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of EOG Resources in the first quarter worth $48,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

EOG stock traded up $0.9750 during midday trading on Wednesday, hitting $118.2950. 2,527,504 shares of the stock traded hands, compared to its average volume of 3,619,063. The firm has a market cap of $64.59 billion, a P/E ratio of 11.50, a PEG ratio of 9.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The stock's fifty day simple moving average is $120.34 and its 200-day simple moving average is $119.26. 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 released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business earned $3.16 earnings per share. On average, analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently disclosed 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. 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. This represents a $4.08 annualized dividend and a yield of 3.4%. EOG Resources's payout ratio is 37.90%.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of research reports. Raymond James Financial increased their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada cut their price objective 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. Melius Research began coverage on shares of EOG Resources in a research note on Wednesday. They issued a "buy" rating and a $173.00 price objective on the stock. Mizuho dropped their price target on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and an average target price of $143.61.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The shares were 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 of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

EOG Resources 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.