Kovitz Investment Group Partners LLC Has $25.62 Million Stake in EOG Resources, Inc. $EOG

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in EOG Resources by 131.2% during the first quarter, owning 199,806 shares valued at approximately $25.6 million.
• EOG Resources announced a quarterly dividend of $1.02, an increase from the previous dividend of $0.98, with a yield of 3.4%.
• The company reported a quarterly EPS of $2.32, exceeding expectations and with revenue of $5.48 billion, though this reflected a year-over-year decline of 9.1%.

Kovitz Investment Group Partners LLC grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 131.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,806 shares of the energy exploration company's stock after purchasing an additional 113,401 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in EOG Resources were worth $25,623,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in EOG. Banque Cantonale Vaudoise bought a new stake in shares of EOG Resources in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $34,000. Ameriflex Group Inc. bought a new position in shares of EOG Resources during the 4th quarter worth approximately $36,000. 10Elms LLP bought a new position in shares of EOG Resources during the 4th quarter worth approximately $44,000. Finally, Stone House Investment Management LLC acquired a new position in shares of EOG Resources during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

EOG Resources Price Performance

Shares of EOG traded up $0.9750 during trading hours on Wednesday, hitting $118.2950. 2,527,504 shares of the company were exchanged, compared to its average volume of 2,839,869. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a market cap of $64.59 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 8.96 and a beta of 0.80. The firm's fifty day moving average is $120.31 and its 200 day moving average is $119.25.

EOG Resources (NYSE:EOG - Get Free Report) last posted 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. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.16 earnings per share. On average, equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently declared 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 represents a $4.08 annualized dividend and a dividend yield of 3.4%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is 37.90%.

Analyst Ratings Changes

Several research firms have commented on EOG. Raymond James Financial upped their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Barclays increased their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. UBS Group raised their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Mizuho decreased their target price on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $143.61.

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.