Zurcher Kantonalbank Zurich Cantonalbank Purchases 161,740 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Zurcher Kantonalbank increased its stake in EOG Resources by 58.6%, acquiring an additional 161,740 shares during the first quarter, bringing its total holdings to 437,590 shares valued at approximately $56.1 million.
• Analyst ratings show a mixed outlook for EOG Resources, with a consensus rating of "Moderate Buy" and a price target of $140.62, as twelve analysts rated it as hold, nine as buy, and one as strong buy.
• EOG Resources recently announced a quarterly dividend of $1.02 per share, marking an increase from the previous $0.98, representing an annualized dividend yield of 3.45%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 58.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 437,590 shares of the energy exploration company's stock after acquiring an additional 161,740 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of EOG Resources worth $56,117,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank Pictet & Cie Europe AG grew its position in shares of EOG Resources by 56.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock valued at $30,449,000 after purchasing an additional 89,521 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of EOG Resources by 26.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 463 shares of the energy exploration company's stock valued at $57,000 after buying an additional 97 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of EOG Resources during the fourth quarter valued at about $1,110,000. Orion Portfolio Solutions LLC increased its position in shares of EOG Resources by 6.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 32,453 shares of the energy exploration company's stock valued at $3,978,000 after buying an additional 1,886 shares during the period. Finally, Allstate Corp bought a new stake in shares of EOG Resources during the fourth quarter valued at about $2,071,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's 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 transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.

EOG Resources Stock Down 0.3%

EOG stock traded down $0.39 during midday trading on Thursday, hitting $120.86. The stock had a trading volume of 1,106,745 shares, compared to its average volume of 3,673,331. The firm has a market cap of $65.96 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 9.46 and a beta of 0.76. The business has a 50-day moving average of $118.64 and a two-hundred day moving average of $120.88. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. 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 released 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 return on equity of 22.35% and a net margin of 26.14%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the company posted $2.82 earnings per share. The company's revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities research analysts forecast 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. Investors of record on Friday, October 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.38%. EOG Resources's dividend payout ratio (DPR) is 37.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank upgraded EOG Resources from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the company from $150.00 to $130.00 in a research report on Friday, April 11th. KeyCorp dropped their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group reiterated a "buy" rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Royal Bank Of Canada dropped their target price on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and cut their target price for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. Twelve 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $140.62.

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.