LPL Financial LLC Acquires 50,055 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• LPL Financial LLC increased its position in EOG Resources by 10.8%, owning approximately 514,736 shares valued at $66 million as of the latest SEC filing.
• Analysts have mixed ratings for EOG Resources, with 12 giving a "hold," 9 a "buy," and 1 a "strong buy"; the consensus price target is $140.62.
• EOG Resources declared a quarterly dividend of $1.02, an increase from the previous $0.98, resulting in an annualized dividend of $4.08 at a yield of 3.36%.

LPL Financial LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 514,736 shares of the energy exploration company's stock after purchasing an additional 50,055 shares during the quarter. LPL Financial LLC owned approximately 0.09% of EOG Resources worth $66,010,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EOG. Silvercrest Asset Management Group LLC grew its stake in shares of EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after acquiring an additional 106,677 shares during the period. ARGA Investment Management LP grew its stake in shares of EOG Resources by 24.2% during the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after acquiring an additional 2,616 shares during the period. CWA Asset Management Group LLC grew its stake in shares of EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after acquiring an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of EOG Resources by 37.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after acquiring an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc grew its stake in shares of EOG Resources by 4.7% during the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after acquiring an additional 8,127 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EOG has been the subject of several analyst reports. Mizuho cut their target price 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. Piper Sandler cut their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Raymond James Financial raised their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Finally, UBS Group restated a "buy" rating and issued a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $140.62.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value 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. The trade was a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

EOG Resources Price Performance

Shares of NYSE EOG traded down $1.14 during trading hours on Thursday, reaching $120.10. 2,657,234 shares of the stock traded hands, compared to its average volume of 2,769,151. The company has a market capitalization of $65.55 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 9.31 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company's 50-day simple moving average is $118.64 and its two-hundred day simple moving average is $120.88.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business's quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. Equities research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business 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 is an increase from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. EOG Resources's payout ratio is presently 36.18%.

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.