Brandywine Global Investment Management LLC Increases Holdings in EOG Resources, Inc. $EOG

Key Points

• Brandywine Global Investment Management LLC increased its stake in EOG Resources by 48.7%, owning approximately 0.12% of the company with a valuation of $86.06 million.
• Institutional investors now own 89.91% of EOG Resources, with multiple funds significantly increasing their positions in the fourth quarter.
• EOG Resources announced a quarterly dividend increase from $0.98 to $1.02, representing an annual yield of 3.4%, set to be paid on October 31st.

Brandywine Global Investment Management LLC raised its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 48.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 671,075 shares of the energy exploration company's stock after acquiring an additional 219,860 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.12% of EOG Resources worth $86,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in EOG Resources in the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new position in EOG Resources in the 1st quarter valued at $34,000. Ameriflex Group Inc. bought a new position in EOG Resources in the 4th quarter valued at $36,000. 10Elms LLP purchased a new stake in shares of EOG Resources in the 4th quarter worth $44,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of EOG Resources in the 1st quarter worth $48,000. Institutional investors own 89.91% of the company's stock.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EOG shares. Mizuho decreased their price objective on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Susquehanna upped their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, Melius started coverage on EOG Resources in a research note on Wednesday. They set a "buy" rating and a $173.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.61.

EOG Resources Stock Up 0.8%

EOG Resources stock traded up $0.9750 during midday trading on Wednesday, reaching $118.2950. The company's stock had a trading volume of 2,527,504 shares, compared to its average volume of 2,839,869. The stock's 50-day simple moving average is $120.31 and its 200-day simple moving average is $119.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The stock has a market capitalization of $64.59 billion, a P/E ratio of 11.50, a PEG ratio of 8.96 and a beta of 0.80.

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 analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The company had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. During the same period last year, the business posted $3.16 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is 37.90%.

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.